In a context where loans or other assistance to foreign countries around the world are often tied to strategic interests, interpreted as involvement in strategic alliances, and pressured for policy changes, Japan's assistance has been relatively free of political and strategic concerns.
What you should know
Those who travel through Koteshwor in Kathmandu in the morning and evening by car have been facing long traffic jams. Since Koteshwor is the hub of many road networks, it is natural that there will be long traffic jams. Koteshwor is the main road leading to Kathmandu from Bhaktapur, to Bhaktapur or Tinkune from Gwarko, and to Bhaktapur or Tinkune from Tinkune.
Since people living in the Bhaktapur area are connected to Kathmandu for reasons such as work, business or study and have to commute for that, the pressure of public and private vehicles is increasing in the Koteshwor area. On the other hand, the pressure of vehicles going east via the BP Highway and entering Kathmandu from the east is also increasing in Koteshwor.
Due to such reasons, passengers are having to face inconvenience, and traffic management is also becoming challenging. Therefore, the expectation is that an alternative should be found to reduce the traffic jam here. With the construction of a flyover and underpass in Tinkune-Jadibuti, a reliable alternative will be available. After the construction work is completed, passengers will feel great relief.
A loan agreement was signed with the Japanese government on Wednesday to build a flyover and underpass in the Tinkune-Jadibuti section. As per the agreement, Japan will provide a loan assistance of 34.59 billion Japanese yen (about 31.76 billion rupees) for the project. The Ministry of Finance has stated that the loan to be received through JICA will have a grace period of 10 years, a repayment period of 30 years and an annual interest rate of 0.2 percent.
JICA itself had conducted a pre-feasibility study for about one and a half years to construct such a structure. Accordingly, a 665-meter-long flyover will be constructed from Tinkune to near the Munibhairav Temple. Similarly, a 610-meter-long underpass will be constructed from near the Munibhairav Temple to the Tribhuvan International Airport, passing under the Tribhuvan International Airport.
A 238-meter-long flyover will be constructed from there to connect it to the new bridge built over the Manohara River. The distance may vary in the final design. Once the information about the loan agreement reaches the Road Department, the implementation process will proceed through work such as consultant selection, detailed survey and design.
It does not mean that the construction of the flyover and underpass will start/be completed immediately after the loan agreement is signed and the passengers' troubles will be reduced. It may take another two years to enter the construction phase after completing all the preparatory work. The overall project construction period is said to be 6 years. Projects mainly operating in the city center have been causing more inconvenience to the people. When the sun shines, dust and when it rains, mud forms.
Mismanagement of construction materials and neglect in developing alternative road traffic systems may lead to more traffic jams throughout the construction period. On the other hand, the completion period of such projects has been extended for various reasons. The Gwarko overpass is an example.
The construction work that started in Falgun 2078 with the intention of completing it within two years has been completed and put into operation only this year. From the Nagdhunga-Naubise tunnel, Siddhababa tunnel to the construction of small and large bridges and road expansion, deadlines have been extended repeatedly. It must be ensured that a similar situation does not occur here too.
There is a debate all over the world on what kind of structures can be built in the city center or not, what kind of city should be envisioned through the structures built on the roads. Keeping that in mind, an alternative is needed to reduce road congestion in Koteshwor. Therefore, the priority given by the government for this and the loan from the Japanese government are positive. Japan is an old development partner of Nepal. It has provided assistance for the construction of many projects and infrastructure through concessional loans or grants.
With Japanese assistance for road improvement, the reconstruction of the BP Highway and the construction of the Nagdhunga-Naubise tunnel are already underway. In a context where strategic interests are attached to loans or other assistance given to foreign countries around the world, involvement in strategic alliances is implied, and pressure is exerted for policy changes, Japan's assistance is relatively free from political and strategic concerns. On the other hand, Nepal is commendable for being ready for loan assistance even when it is facing economic and political difficulties.
As of last Kartik, the government's outstanding public debt has reached Rs 2729.41 billion. This is 44.69 percent of Nepal's gross domestic product (GDP). In the fiscal year 2080/81 and fiscal year 2081/82, the allocation under the heading of financial management exceeded the size of capital expenditure. Therefore, although there is no great pressure from public debt, we are moving towards the pressure area.
Therefore, the loans we take will be used properly only if they contribute to increasing our productivity, capital formation and employment creation. Otherwise, it is not wise to just take loans and pour them into projects. Therefore, questions such as whether the flyover and underpass that are being built with a loan of Rs 31.76 billion will be completed on time or not, whether the target group will benefit on time or not, and whether it will help in increasing productivity or not have become natural.
