Announcement of IDA Assists Project Preparation in Nepal on September 9, 1976

.world Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 IDA NEWS RELEASE NO. 77/7 SEPTEMBER 9, 1976 IDA ASSISTS PROJECT PREPARATION IN NEPAL The International Development Association (IDA), an affiliate of the World Bank, is extending a credit of $3 million for a technical assistance project in Nepal. Nepal is currently engaged in the task of increasing agricultural productivity and diversifying its agriculture into high value cash crops. The Government is also trying to improve efficiency in both agriculture and industry. There is an urgent • need to generate and prepare projects suitable for external financing . The IDA credit will help provide technical assistance for pre-investment planning, feasibility and engineerin9 studies, con- sulting and advisory services, and training for staff of agencies responsible for project planning and preparation. The project, when completed in 1980, will help Nepal build up a pipeline of projects. The Foreign Aid and Program Divisfon of the Ministry of Finance, Government of Nepal, Babar Mahal, K~thmandu, Nepal, wi 11 coordinate the implementation of the project by several Gov- ernment agencies. The IOA credit to the Government of Nepal is for a term of 50 years, including 10 years of grace. It wi 11 be interest free, except for a service charge of 3/4 of 1% to meet IDA's administrative costs . • ----·------------·--·-.-----·----,·--------··-- NOTE: Money figures are expressed in U.S. dollar equivalents.