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The foreign ministers have agreed to approve projects, at least in principle, following a detailed study by the Asian Development Bank, The Kathmandu Post reported.
The member states are developing BIMSTEC Transport Connectivity Master Plan, with a goal to complete it by the end of September 2018, Foreign Minister Pradeep Gyawali told the Post.
“Several multilateral donor agencies are interested to put money in this master plan,” Gyawali said. “We have received interest from ADB, the World Bank and other multilateral agencies to push these projects.”
The ADB study included transportation and cross-border facilitation, multimodal transport and logistics, infrastructure development, aviation, maritime transport, human resources development, as well as communication linkages and networking.
The BIMSTEC Transport Infrastructure and Logistic Study or BTILS was updated by the ADB in 2014. Of 167 projects, the study has prioritised 66 projects.
During the ministerial meeting,