Kathmandu. The World Bank has approved a loan of US$ 257 million for two projects in Nepal. Issuing a press release today, the World Bank said that the loan was approved at a meeting of the World Bank’s Board of Directors held on May 29.
The loan facility has been provided with the objective of increasing agricultural production by improving Nepal’s electricity distribution system and improving irrigation services. Out of this, a loan of $ 120 million has been taken for the power supply system improvement project. The amount will make the power distribution system of Koshi, Bagmati, Karnali and Sudurpaschim provinces strong and reliable.
The supply system improvement project to be operated by the Nepal Electricity Authority (NEA) aims to develop an automated system for the construction of substations, upgradation of distribution structures and monitoring them.
Similarly, a loan of US$ 137 million has been approved for the third phase-30 of Rani Jamara Kularia Irrigation Project. The project aims to increase the production of agricultural produce by providing irrigation facilities throughout the year in Kailali district of sudurpaschim state. The project is expected to provide irrigation facility to an additional 17,500 hectares of land throughout the year and will benefit about 160,000 people.
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