October 16: Nepal is likely to get support from the World Bank Group for road network, tourism and employment sectors.  Officials at the Ministry of Finance informed New Business Age that the World Bank has shown its willingness to support Nepal in expansion of Nagdhunga-Mugling road section, upgrading East-West Highway, tourism infrastructure development and feasibility studies.

The government is doing homework to secure Rs 20 billion loan from the World Bank for the expansion of Nagdhunga-Mugling road section of the Prithvi Highway. The government will also seek additional support from the World Bank for the completion of Narayangadh-Mugling road section.

“An agreement to this effect will be signed after Tihar,” said a source at the ministry requesting anonymity.

Meanwhile, Finance Ministry said that the assistance provided by the World Bank will also be used for feasibility studies, and development of tourism infrastructure.

A highly placed source at the ministry said the World Bank will provide Rs 7 billion for tourism infrastructure development.

Likewise, the World Bank has already approved Rs 13.65 billion grant for promoting employment opportunities in Nepal.

Finance Minister Yuba Raj Khatiwada has left for Washington DC on Tuesday to attend the joint annual meeting of the World Bank and the International Monetary Fund.