Japanese loan aiding Nepalese tunnel project

RSSThe 5283 Nepalese Government is to receive a loan from the Japanese International Cooperation Agency (6706 JICA) for a key tunnel project. The JICA loan is being offered at an interest rate of 1% for the next 40 years. The project is expected to cost in the region of US$150.1 million to construct. The new link will reduce traffic congestion on the existing Nagdhunga-Thankot road. Work is expected to commence in the next 18 months. The survey for the 2.5km tunnel has been carried out by the Department of Roads.