WB Stresses Infrastructure Development

WB Stresses Infrastructure Development

March 25, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -18 Mar. 21- 2014 (Chaitra 07, 2070)

Visiting delegates of the World Bank Group have said that the government of Nepal should focus on critical infrastructure sectors and reforms in service delivery for the better economic development of the country.

Talking to media persons before wrapping up a six-day visit to Nepal, spokesperson Jorg Frieden, the executive director for Switzerland, said that the government of Nepal should ensure critical infrastructure development. Frieden is also a designated spokesperson for the group.

“The country is at a turning point in hydropower development as we are following the hydropower development for long,” added Frieden. The group had visited Upper Tamakoshi Hydropower Project and Upper Trishuli I hydropower project during the visit. The team also said that the government must focus on hydropower development.

Likewise, Frieden also suggested improving road connectivity to ensure road safety. The team also suggested improving the way the bureaucracy functions.

The group that comprises eight members of the World Bank Group board had observed some ongoing projects it had supported. They also met with finance minister Ram Sharan Mahat and other high officials. The team said that there is a sense of stability following the election in the country.

The team also has expressed dissatisfaction over low economic growth.

Friegen said, “Job creation should be a major concern.”

It also emphasized spending in the public sector for the high economic growth. The mid-term review of the budget of this fiscal year released last week said that the capital expenditure stood at 30 percent, while only 19 percent of the allocated budget was spent on national pride projects.

Likewise, the team has also said that though a number of reform initiatives have been taken they have not yet concluded. During the conference, the World Bank officials also said they are studying the Kathmandu Tarai Fast Track for investment in the project.

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