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China to provide Nepal with a grant of Rs. 428 million
Secretary to the Ministry of Finance, Vidyadhar Mallik and Ambassador of China Zheng Xiangling on behalf of their respective government signed off on the agreement on the People's Republic of China providing the Government of Nepal with a grant assistance of RMB 50 million equivalent to Rs 428.5 million for the implementation of mutually agreed development projects according to the press release of the Finance Ministry of Thursday, December 20, 2007. The grant assistance is a part of continuing economic and technical cooperation mechanism between the Government of the People's Republic of China and the Government of Nepal. The Government of Nepal has expressed its sincere appreciation for the Chinese Government's continued involvement in the socio-economic development of Nepal. (The Rising Nepal, Dec. 21, 2007)
