Kathmandu, June 4: The Japan government has provided additional loan for the construction of the Nagdhunga Tunnel Project.
The Japan Government decided to extend the additional loan (5.7 billion yen) for the Nagdhunga Tunnel Construction Project”. Maeda Toru, Ambassador of Japan, and Ghanshyam Upadhyaya, Secretary of the Ministry of Finance signed the exchange of notes for the additional loan to this effect on Wednesday.
In December 2016, the loan assistance of up to 16.636 billion yen by the Government of Japan for the implementation of the project was signed, However, due to a shortage of funds caused by rising prices and other factors, the additional loan of 5.7 billion yen equivalent to 5.5 billion Nepalese rupees has been made, bringing the total amount of the loan to 22.336 billion yen.
The Nagdhunga Tunnel is the first mountainous traffic road tunnel in Nepal. After its opening this year, the convenience of traffic will be greatly improved, and it will be extremely significant for the promotion of the local economy.
The construction of the tunnel commenced in 2019. Digging a tunnel in the Himalayan mountainous region, which is still growing and has intricate strata, is an unimaginably difficult challenge. The inside of the tunnels was repeatedly hit by unexpected floods and collapses during the extremely difficult excavation work. Japanese project team has been working together with Nepali team to take on technical challenges in the site. This project provides a unique opportunity to transfer advanced Japanese skills to young Nepali engineers. It would surely benefit the Nepali people in the future.
This year marks the 70th anniversary of the establishment of diplomatic relations between Japan and Nepal. The Embassy of Japan has believed that this project will be instrumental for Nepal in achieving sustainable economic development, and serves as a symbol of the enduring friendship and cooperation that has defined the relationship between our two countries over the past seven decades.
People’s News Monitoring Service.
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