Kathmandu- The Ministry of Finance (MoF) of Nepal and the China International Development Cooperation Agency (CIDCA) have held a meeting to review the progress of China-funded development projects in Nepal.
During the video conference meeting held between the MoF and CIDCA on Thursday, the two sides discussed the status of the China-funded development projects in Nepal, as well as the upcoming initiations needed to be taken to expedite the implementation of the pipeline projects.
CIDCA is a sub-ministry level Chinese foreign aid arm that is directly under the State Council of China.
According to a press release issued by the Finance Ministry, the Nepali side briefed CIDCA about the progress of different ongoing projects.
The Finance Ministry also requested for an earlier initiation from the Chinese side for the implementation of strategic pipeline projects, including the Bir Hospital Extension Project, Coordinated Border Management at Korala Customs Point, Madan Bhandari Science and Technology University Project, Livelihood Improvement Projects in the Northern Region of Nepal, Feasibility Study of Tunnel Construction in Tokha-Chhare and Betrabati-Syafrubesi and China-Nepal Cross-Border Railway and implementation of Exim-Bank concessional loan projects.
During the meeting, the Chinese side reportedly reaffirmed their commitment towards scaling up the initiations for promoting these projects and stressed on the need to work together to better plan and coordinate . They further proposed to forward these projects in a stepwise manner once the effects of COVID-19 begins to ease, according to the statement.
Addressing the meeting , Finance Secretary Sishir Kumar Dhungana expressed Nepal’s commitment to resolving existing issues related to the execution and facilitation of the within the stipulated time frame.
Deng Boqing, Vice Chairman of the CIDCA said that the agency has already taken initiations to resolve the issues related to the execution of the ongoing projects. He also expressed a commitment to carry forward the important pipeline projects whose preparatory works have been already finalized by the Government of Nepal.