Jan 16, 2017

The Government of People's Republic of China has agreed to provide a grant assistance of RMB 80,00,00,000 under the Economic and Technical Cooperation.

The Government of People's Republic of China has agreed to provide a grant assistance of RMB 80,00,00,000 (Approximately NRs 12 Arba 83 Crore 6 Lakhs) under the Economic and Technical Cooperation for marking the sixtieth years of cordial and friendly diplomatic relationship between two countries.

The main objective of this grant assistance is to support Nepal's economic development by implementing the mutually agreed development projects covering various sectors including infrastructure development. This cooperation will be utilized in the development programs as agreed by both governments.

The Project will be implemented in continuous basis from FY 2015/16. The sectoral ministries of the government of Nepal will be the implementing agency for the projects under this Grant Assistance.
The Agreement was signed in Kathmandu by Mr. Suman Prasad Sharma, Secretary of Ministry of Finance and H. E. Mr. Wu Chuntai, Ambassador of the People's Republic of China to Nepal on behalf of the Government of Nepal and the Government of People's Republic of China respectively in the presence of Honorable Finance Minister Dr. Ram Sharan Mahat.