Country Director for Nepal and Bangladesh, Ellen Goldstein, said the World Bank Group stands ready to significantly ramp up its support for the development of Nepal’s hydro power potential provided that the government urgently addresses implementation bottlenecks in ongoing power sector operations.
‘Protracted implementation delays are holding back the Bank Group and the private sector from investing substantially in affordable power generation and transmission,’ said Goldstein.
Prime Minister Baburam Bhattarai noted the need for urgent resolution of the current challenges and acknowledged transformational investments in hydro power are critical pathways out of poverty and unemployment for Nepal. Bhattarai said he had decided to form a steering committee across government, including the private sector and development partners, to accelerate hydro power development.
