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The World Bank has approved loans worth 257 million US dollars for two projects in Nepal.
The World Bank issued a press release today saying that the World Bank Board of Directors meeting held on May 29 approved the loan.
This loan facility has been provided for the purpose of improving Nepal's electricity distribution system and improving agricultural production by improving irrigation services.
Out of which, US$120 million loan facility has been taken for the power supply system improvement project. It is said that the electricity distribution system of Koshi, Bagmati, Karnali and Sudurpaschim provinces will be strengthened and reliable with this amount.
It is said that the purpose of the supply system improvement project to be implemented through the Nepal Electricity Authority is to build a substation, upgrade the distribution structure and develop an automatic system to monitor it.
Similarly, for the third phase (Phase-3) of the Rani Jamra Kularia Irrigation Project, a loan equal to USD 1.37 million has been approved.
This project aims to increase the production of agricultural produce by providing irrigation facilities throughout the year in Kailali district of Sudurpaschim Province. With this project, irrigation facility will be provided to 17 thousand 500 hectares of land throughout the year and about 160 thousand people will benefit from it.
