The Investment Board Nepal (IBN) has requested the Government of Nepal to allocate Rs 280 million funds in the next budget in order to sign up about 28 consultants for 14 infrastructure projects.
An official with the accounting department of IBN stated, "We need at least two consultants for each project."
The official added, "The finance ministry and IBN, however, are yet to sit together for further discussion."
The Government of Nepal has set up IBN, the high-profile state-run organization, over 18 months ago, and has allowed it to assist in the execution of the fourteen infrastructure projects, including 8 mega hydroelectricity projects, enhancement of Tribhuvan International Airport, and upgrading Kathmandu Metro Railway, Kathmandu-Tarai Fast Track Road as well as Nijgadh Second International Airport.
The official with the IBN's accounting department has further stated that the International Finance Corporation (IFC), the private sector lending wing of the Washington-headquartered World Bank, has prepared the budget proposal of the high-level government entity. He added, "The IFC developed this proposal based on international practices of hiring consultants for large scale projects."
The Office of the Prime Minister and Council of Ministers (OPMCM) has been delivering funds to IBN to date. Thus, this is IBN's maiden request for budgetary allocation from the Government.
The IBN is now involved to finalize the conditions for the project development agreement (PDA) with four mega hydroelectricity projects of Arun III, Upper Marsyangdi, Upper Karnali and Tamakoshi.
An official with the accounting department of IBN stated, "We need at least two consultants for each project."
The official added, "The finance ministry and IBN, however, are yet to sit together for further discussion."
The Government of Nepal has set up IBN, the high-profile state-run organization, over 18 months ago, and has allowed it to assist in the execution of the fourteen infrastructure projects, including 8 mega hydroelectricity projects, enhancement of Tribhuvan International Airport, and upgrading Kathmandu Metro Railway, Kathmandu-Tarai Fast Track Road as well as Nijgadh Second International Airport.
The official with the IBN's accounting department has further stated that the International Finance Corporation (IFC), the private sector lending wing of the Washington-headquartered World Bank, has prepared the budget proposal of the high-level government entity. He added, "The IFC developed this proposal based on international practices of hiring consultants for large scale projects."
The Office of the Prime Minister and Council of Ministers (OPMCM) has been delivering funds to IBN to date. Thus, this is IBN's maiden request for budgetary allocation from the Government.
The IBN is now involved to finalize the conditions for the project development agreement (PDA) with four mega hydroelectricity projects of Arun III, Upper Marsyangdi, Upper Karnali and Tamakoshi.