November 15: The Government of Nepal and the World Bank signed two agreements totaling USD 155.7 million to be invested in the construction and maintenance of safe, resilient and cost-effective bridges in Nepal, and in improving food security of vulnerable households and communities in the country.

As per a joint press statement issued by the government of Nepal and the World Bank, the first credit will finance USD 133 million for the improvement and maintenance of approximately 477 bridges along Nepal’s Strategic Roads Network. Under the second agreement, Global Agriculture and Food Security Program (GAFSP) will provide a USD 22.7 million grant to support the Food and Nutrition Enhancement Project.

“The second agreement aims to improve the health and livelihoods of approximately 65,000 direct beneficiaries, of which 65 percent target will be women. It will work with smallholder and marginal farmers to improve nutritional behavior by linking it with agriculture-related and income-enhancing activities. In addition, farmers from adjacent communities are expected to indirectly benefit through knowledge exchanges and other engagements from project-supported farmers,” the statement reads.

The agreements were signed by Finance Secretary Rajan Khanal and the World Bank Country Director for Bangladesh, Nepal and Bhutan, Qimiao Fan, in the presence of Finance Minister Yuba Raj Khatiwada.

“With these two projects, the Government of Nepal and the World Bank will come together to ensure better livelihoods, access, trade and life opportunities for thousands of Nepalese people,” said Finance Minister Yuba Raj Khatiwada.

“The first credit of USD 133 million will be instrumental in ensuring the well-being of the country’s Strategic Roads Network, comprising of roughly 12,142 kilometers of national highways, feeder roads and other roads of national importance. The second project will be in the form of a grant of USD 22.7 million that contributes to the Government’s capacity to deliver agriculture extension services at the decentralized levels, and to diversify income opportunities for the rural poor,” he added.

“We are deepening our collaboration with the Government of Nepal through the development and sustainability of key strategic bridges, and through enhancement of food security and nutrition. These contribute greatly to Nepal’s development storyline by addressing the need for connectivity, human capital development and shared prosperity,” said Hartwig Schafer, vice president of World Bank for South Asia Region.