KATHMANDU, Oct 20: Stress has been laid on accelerating the implementation of projects financed by the Asian Development Bank (ADB).
At a tri-party review meeting arranged by the ADB at the Finance Ministry today, it was realized that work progress on the ADB-funded projects in Nepal was not satisfactory. The work progress reports presented at the meeting show that among the projects being implemented in Nepal with the ADB's investment, 32 are witnessing a slow progress.
According to the ADB, there was an agreement on investing a total 1.73 US dollar in the execution of these projects, but some 1. 145 billion US dollar remains unspent in the fourth quarter of the year 2016.
ADB concerned over slow pace of development projects
Frequent transfer of projects' employees, hurdles in the acquisition of land selected for the project implementation and last year's earthquake are attributed to the sluggish progress on the projects' implementation.
Addressing the meeting, ADB Deputy Director General Diwesh Sharan sought the seriousness of all the sides concerned to expedite the execution of the ADB-funded projects in Nepal.
Frequent transfer of employees and a lengthy procurement process are also factors in the delay in the execution of projects, he added. He suggested that Nepal should improve a progress index regarding the implementation of projects and increase the capital expenditure to see an increase in the ADB's investment here. He drew the attention of the authorities concerned towards the delay in completing the task of upgrading Tribhuvan International Airport, in the construction of Bhairahawa-based Gautam Buddha International Airport and construction and expansion of the power transmission lines.
Finance Secretary Shantaraj Subedi who was present at the meeting called for support and cooperation from all sides to accelerate the implementation of the projects funded by the ADB. He said the government was committed to expediting such projects.
Finance Ministry's International Economic Coordination Division Chief Baikuntha Aryal and ADB's Nepal director Kenichi Yokohama were also present at the meeting. RSS
