Nepal and World Bank launch Rs 36.26 billion ACCESS project for connectivity and trade

June 12, Kathmandu: The Government of Nepal, in collaboration with the World Bank, has launched a major project called “Accelerating Nepal’s Regional Transport and Trade Connectivity” (ACCESS).

Valued at $275 million (Nepali Rupees, 36.26 billion) , the initiative aims to enhance trade and connectivity by reducing costs and transit time along selected corridors in the country.

Minister of Physical Infrastructure and Transport, Prakash Jwala, and World Bank Vice President for South Asia, Martin Raiser, officially inaugurated the project on Sunday.

The primary focus of ACCESS is the upgrade of a 69-km section of the Butwal-Gorusinghe-Chanauta road on the East-West Highway into a four-lane, climate-resilient highway. This enhancement is projected to decrease travel time by 30%, facilitating better access to Western ports in India.

Additionally, the project will establish three market areas along the highway, equipped with internet and trade information facilities to boost economic opportunities, particularly for women entrepreneurs and traders. Furthermore, it will support Nepal’s readiness and implementation of the Motor Vehicle Agreement signed by Bangladesh, Bhutan, India, and Nepal to enable seamless movement of goods and passenger vehicles across borders.

The ACCESS project holds the potential to promote regional trade and sustainable infrastructure development, contributing to Nepal’s overall inclusive and green growth agenda.