World Bank to give $60 mn for bridges in NepalJune 21st, 2012 - 5:55 pm ICT by IANS
Kathmandu, June 21 (IANS) Nepal will receive $60 million from the World Bank for construction, improvement and maintenance of bridges, the government said.
The funding is being made through the bank’s new lending mechanism “Project for Result (P4R)”, Xinhua reported citing the ministry of physical planning, works and transport management.
“The funds will be utilised to build new bridges and maintain old ones in the Strategic Road Network,” Tulasi Prasad Sitaula, secretary at the ministry, was quoted as saying.
The fund will be spent over the next five years to build 121 new bridges and maintain 426 existing bridges in the network.
The report said this was the first time the World Bank was providing support for bridges.
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