Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal and Japan on Thursday signed a grant agreement for the reconstruction and maintenance of the flood-affected sections of the BP Highway, one of Nepal’s major national road corridors. The agreement was signed at the Ministry of Finance in the presence of Finance Minister Rameshwor Prasad Khanal and Home Minister Om Prakash Aryal.
The BP Highway, stretching 159 kilometers from Bardibas in Mahottari to Dhulikhel in Kavrepalanchok, was originally built with Japanese financial assistance. The highway suffered severe damage during last year’s devastating floods and landslides, particularly along sections near the Roshi River, where several parts of the road were completely washed away.
To support the restoration work, the Government of Japan has committed ¥2.8 billion Japanese Yen (approximately NPR 2.6 billion) in grant assistance.
The Exchange of Notes was signed by Finance Secretary Ghanshyam Upadhyay on behalf of the Government of Nepal and Japanese Ambassador to Nepal Toru Maeda on behalf of the Government of Japan. Likewise, the grant agreement was signed by Dhani Ram Sharma, Joint Secretary of the Foreign Aid Coordination Division at the Ministry of Finance, and Mitsuzaki Mizuki, Chief Representative of JICA Nepal.
Speaking at the ceremony, Finance Minister Khanal said Japan remains a reliable and longstanding development partner for Nepal, acknowledging Japan’s continued support in economic development and infrastructure expansion. He stated that the latest grant reflects the strong cooperation and friendship between the two countries.
Japanese Ambassador Toru Maeda expressed confidence that the assistance would help restore the damaged sections of the BP Highway, ensuring safe and reliable connectivity between the eastern and central regions. He highlighted the decades-long diplomatic and development partnership between Nepal and Japan.
Senior officials from the Ministry of Finance, Ministry of Physical Infrastructure and Transport, the Embassy of Japan, and JICA Nepal were present during the signing ceremony.
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