FinMin asks WB to increase investment in large projects

KATHMANDU, OCT 21 -
 
Finance Minister Shankar Prasad Koirala on Sunday requested the World Bank (WB) to increase its investment in large projects. The request has come at the time when the bank is devising a five-year country assistance strategy for Nepal.

At a meeting with WB Country Director Johannes Zutt on Sunday, Koirala asked him to promote “qualitative investment” in Nepal, while praising the bank’s support to the government’s priority areas — infrastructure development, including hydropower sector.

On concerns over slow progress in the construction of the Khimti-Dhalkebar Transmission Line (KDTL) project in which the World Bank has pledged financial aid, Koirala assured he would initiate talks with stakeholders to speed up the work.

During the meeting, Zutt expressed dissatisfaction over repeated disturbances in transmission line extension projects. He complained that the project has not been completed even after 10 years since the construction began.

The transmission line project will play a crucial role for the under-construction Upper Tamakoshi Hydro Power project.

Zutt requested the minister to complete the KDTL project by the end of 2013, the expiration date of the project. Normally, disturbance in transmission lines also affects electricity generation.

Zutt said the WB would prioritise the energy sector development and also informed a team of WB experts is scheduled to visit Nepal to discuss the bank’s strategy for Nepal.

Source: The Kathmandu Post