World Bank Approves Rs 54 billion Loan For Nepal

June 12, 2020 | Investopaper

World Bank will provide Rs. 54 billion as loan to the Government of Nepal. The loan amount was approved by the bank today to pave the way for the restoration of the economic situation after the epidemic of Covid-19 through wider cross-border trade while maintaining and improving roads, and to provide employment opportunities especially to women.

The Bank has expressed confidence that the amount sanctioned for the improvement of Nagdhunga-Naubise-Muglin road section and upgrading of Kamala-Dhalkewar-Pathlaiya road will increase the Nepal Strategic Road Link and Trade Reform Project as well as regional road link.

The strategic road connectivity and trade reform project will be important to increase connectivity and trade with India and other countries. The project will help in the export of trade-friendly physical infrastructure at the border and unhindered agricultural products, the bank said in a statement today.

In view of the epidemic of COVID-19, the project will make arrangements for strong testing of imported and exported goods and persons involved in them, special working arrangements, safe social distance and physical performance from a distance.

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