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Chinese Financial Assistance To Nepal
By KTM Metro Reporter
August 18, 2011: members of the high-profile Chinese delegation have signed off separate agreements on providing Nepal with a grant of Rs 1.67 billion and a loan of Rs 1.7 billion.
Secretary to Ministry of Finance Krishna Hari Baskota and Vice-Minister for Commerce of China Chen Jian have signed off an agreements on China providing Nepal with the grant assistance of Rs 1.67 billion for mutually agreed development projects as the continuing economic and technical cooperation between the two countries, and a soft loan of Rs 1.7 billion.
The Export-Import Bank of China is to provide Nepal with a soft loan of Rs 1.7 billion for building the Kathmandu 220 KV Transmission Line and 132 KV Bay Extension Works Project of the Upper Trishuli III ‘A’ Hydropower Project.
The government of Nepal has appreciated the assistance of the Chinese government and the loan of the Export-Import Bank of China according to press release of the Ministry of Finance of the government of Nepal.
