May 18, 2010 7:53 PM

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WB agrees to provide Rs 3.01 billion for rail projects in Nepal

The World Bank has agreed to provide an additional assistance amounting to 3.01 billion rupees to Nepal to help scale its efforts at improving the rural road network. A press statement issued by the global body said Nepal's road network and quality are among the lowest in South Asia region with six of the Nepal's 75 districts yet to be connected by road. The World Bank said improving these inoperable roads to an all-weather standard and implementing a system of regular maintenance is essential the country's economic growth and social welfare.To help address these problems, Rural Access Improvement and Decentralization Project has been upgrading rural roads in 20 of the 75 districts since the year 2005. With the new financing, the project will expand its operations to 10 districts that will help upgrade additional 550 rural roads to all-weather standards.The World Bank release said an agreement on providing additional financing was signed by Nepal's Finance Secretary Rameshwore Prasad Khanal and Susan G Goldmark, country director of the World Bank, on behalf of their respective authorities on Monday.

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