The government´s apex policy making body stated that the projects that have already completed feasibility study would be included in the project bank. Projects will be selected for the project bank as per the national priority. [break]
“We have come up with the idea of the project bank as donors are interested to support us run different infrastructure projects,” Dr Jagadish Chandra Pokharel, vice chairman of NPC, told myrepublica.com.
Dr Pushkar Bajracharya, member of NPC, said the apex policy making body has already initiated the process of formulating a guideline to effectively implement the concept of project bank. “The process of including the high-priority projects -- both existing and upcoming -- in the project bank will begin from this year,” Bajracharya added.
Vice Chairman Pokharel informed myrepublica.com that NPC has already directed concerned ministries to send the list of the projects that they have put under high priority to NPC. “We will gradually put the projects in the project bank once we receive the list from the ministries,” he added.
NPC will continue to include new projects in the project bank as per the necessity and priority in the coming days. In the past also, NPC had taken similar initiative by including hydropower projects in their priority list. However, the concept could not be implemented.
“We are still lacking the projects that can be implemented with funding from both domestic resources and foreign aid. So, we are putting focus on selecting high-priority projects in a bid to end confusion regarding prioritizing the projects,” Bajracharya added.
Pokharel said the projects having life time of more than seven years will be put in the project bank that will be initiated by including around 15 such projects.
“Though we have a host of projects to be selected, we have begun implementation of the project banks even with a few projects,” Pokharel said, adding that some hydropower and irrigation projects have already been prioritized under the concept.
Pokharel expressed the hope that the concept of project back would help attract foreign assistance to implement the projects designed as per the national priority.
Economist Bhola Chalise informed myrepublica.com that the time required for preparation and implementation of the projects can be reduced at least by a year if the concept of project bank is implemented effectively.
“Though the concept was also discussed in the past, it couldn´t be implemented,” Chalise said. He said enlisting of projects under the project bank would provide opportunity for the donors to select projects as per their areas of interest.
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