WB providing concessional loan of USD 80 million to promote integrated water resources management

Kathmandu / July 13: The World Bank (WB) is providing US $ 80 million (around Rs 10 billion) in concessional loan to Nepal for a project to improve the delivery of water and sanitation services and promote integrated water resources management.

On Wednesday, Finance Secretary Madhu Kumar Marasini and the WB Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos signed an agreement to this effect.

The WB-funded Water Sector Governance and Infrastructure Support Project will be implemented in strategic towns and rural municipalities in Karnali and Sudurpaschim provinces. Both provinces have low access to water supply and sanitation services, a higher incidence of poverty, and are vulnerable to climate change.

The WB Country Director said this project will help strengthen the delivery of water and sanitation services at the local level by building the capacity of municipalities, while at the same time addressing critical gaps in water and sanitation infrastructure to support Nepal’s economic progress and a green, resilient, and inclusive development.

The project will help the local governments develop viable institutions to deliver water supply and sanitation services sustainably and efficiently. It will also strengthen the accountability of the sector to customers by building the monitoring and regulatory capacity of provincial and federal government agencies in the sector, reads a press statement issued by the WB.