NATIONAL 4 - (Spotlight Weekly)

Lending Help

The World Bank provides loan assistance for road maintenance

The World Bank has agreed to extend a credit worth US$ 54.5 million to Nepal government for the Road Support and Maintenance Program. According to the Bank, the five-year project aims at substantially improving mobility and access in the poorest regions of Western Nepal and supporting sustainable funding and management of road assets in the country. The loan will be utilized to construct, upgrade, rehabilitate and maintain over 1,000 kms of road, the Bank said.


Workers repairing a road : Maintaining life-line

"Better infrastructure is a precondition for broad-based growth in Nepal," said Hans M. Rothenbuhler, country director of the Bank for Nepal. "Without better road maintenance and a feeder road network, economic development of poor rural areas will continue to be greatly constrained," he added. The Road Maintenance and Development Program has four key components, including policy reform, periodic maintenance, road development and upgrading and road rehabilitation. The policy reform component of the Project includes support to set up a private sector led Roads Board and Roads Fund, the Bank said.

The interest-free credit is provided by the International Development Association (IDA), the concessionary lending arm of the Bank, on standard term with a 35-year maturity and a 10-year grace period. The total project costs are US$ 69.5 million out of which the Nepal government will chip in US$ 11.4 million.

The Bank has funded five projects in Nepal's road sector since 1970. In 1997, the Bank helped Nepal government to develop a Priority Investment Plan (PIP) for the transport sector, which has been adopted as the guide for balanced investments in development and maintenance of the roads network.

HIMALAYAN JAVA
New Address In Town

An international-standard coffee shop in the capital promises satisfaction to the consumers

By A CORRESPONDENT

Here is a good news for those who are for new tastes for their taste-buds. With the launching of `Kathmandu International Coffehouse Pvt. Ltd,' an up-market coffee shop in the heart of the city, by an American company, 'Himalayan Java', they can enjoy their time over a cup of specialty hot beverage. Located at Heritage Plaza Business Complex in Kamaladi, the shop will serve, in addition to its wide range of expresso-based coffee beverages, the US-style breakfasts, lunches and pastries to the locals, tourists as well as expatriates.

"The shop will also offer adaptations of many types of international food including Southern American, Mexican, Italian, Chinese, Indian and Nepali dishes," said Sarah Rager, Operator/Director of the Coffee Shop. "We will also work toward promoting production and marketing of coffee beans in Nepal," said Jack Rager, husband of Sarah and consultant with the Company. "Nepalese climate and geographical location are very conducive to the production of Arabica coffee beans that is used worldwide to make special coffee." According to Jack, coffee production is one of the most labor intensive processes, making it a perfect opportunity for local farmers to take advantage of this profitable industry that is not expected to peak until 2015.

The shop employs nearly 14 people, majority of them Nepalese. "We have plans to open similar shops in Pokhara and other parts of the country in near future," said Sarah. According to her, the new coffeehouse got its name from the small island in Indonesia called "Java" where coffee was first grown many centuries ago.