China ups grant assistance to Nepal
China is also providing assistance under soft loan from Export-Import Bank of China and under turnkey project categories. Nepal has also already requested China for soft loan of US$ 215.69 million (Rs 21.56 billion) to finance Pokhara Regional International Airport.
Speaking at the program, Minister for Finance Ram Sharan Mahat expressed sincere gratitude to China for increasing grant assistance to Nepal. -
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KATHMANDU, March 17: China has increased grant assistance to Nepal by more than two and half times.
Finance Secretary Suman Prasad Sharma and China's Ambassador to Nepal Wu Chuntai signed an agreement for grant assistance of approximately Rs 12.83 billion on Tuesday.
Finance Secretary Suman Prasad Sharma and China's Ambassador to Nepal Wu Chuntai signed an agreement for grant assistance of approximately Rs 12.83 billion on Tuesday.
Nepal had received Rs 4.86 billion worth of grant assistance from the northern neighbor last year.
Issuing a statement on Tuesday, Ministry of Finance said that the amount will be spent support Nepal's economic development by implementing mutually agreed development projects covering various sectors including infrastructure development. The grant assistance is for projects to be implemented from 2015/16 onwards. Ministries themselves will be the implementing agency for projects to be run under this grant assistance, according to the statement.
China has been providing economic assistance to Nepal in different three headings. The assistance was provided by China under Economic and Technical Cooperation (ETC) to mark 60th year of cordial and friendly relationship between the two countries.
Issuing a statement on Tuesday, Ministry of Finance said that the amount will be spent support Nepal's economic development by implementing mutually agreed development projects covering various sectors including infrastructure development. The grant assistance is for projects to be implemented from 2015/16 onwards. Ministries themselves will be the implementing agency for projects to be run under this grant assistance, according to the statement.
China has been providing economic assistance to Nepal in different three headings. The assistance was provided by China under Economic and Technical Cooperation (ETC) to mark 60th year of cordial and friendly relationship between the two countries.
China is also providing assistance under soft loan from Export-Import Bank of China and under turnkey project categories. Nepal has also already requested China for soft loan of US$ 215.69 million (Rs 21.56 billion) to finance Pokhara Regional International Airport.
Speaking at the program, Minister for Finance Ram Sharan Mahat expressed sincere gratitude to China for increasing grant assistance to Nepal. -
China’s Ambassador to Nepal Wu Chuntai (left) and Finance Secretary Suman Prasad Sharma exchange agreement for grant
assistance of approximately Rs 12.83 billion from China to Nepal at an event held at the Ministry of Finance in Singha Durbar, Kathmandu, on Tuesday, in the presence of Minister for Finance Ram Sharan Mahat (center). Bijay Rai/Republica -
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