KATHMANDU: The Provincial and Local Road Improvement Program (PARIP) in Nepal will get financial support totaling $100 million, according to approval from the World Bank. This funding was sourced from the Independent Development Association (IDA) and seeks to improve the local road network in the country. The Ministry of Finance stated that the aid will center on roads, bridges, and power in Nepal’s provincial districts.
The Nepal and IDA just signed this financial aid deal in Kathmandu. About 3,000 Km of the provincial and local road networks in Sudurpaschim, Karnali, and Madhesh provinces will be constructed and reinforced in the first phase of the PARIP. This will provide direct benefits to nearly one million people.
The World Bank emphasized that this initiative will also bolster the institutional, managerial, and technical capacities of provincial and local governments in Nepal to plan, design, build, and maintain roads and bridges. The World Bank Country Director for the Maldives, Nepal, and Sri Lanka, David Sislen, and the Finance Secretary of Nepal, Dr. Ram Prasad Ghimire, signed the agreement. Additionally, separate agreements were established between the Ministry of Urban Development, the participating provinces, and the World Bank for individual projects within the program.
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