China pledges Rs 15.7 billion in grant assistance to Nepal

Published On: December 29, 2016 07:21 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 30:China has agreed to provide a grant assistance of RMB 1 billion (approximately Rs 15.7 billion) to Nepal to repair and improve Syaphrubesi-Rasuwagadhi Highway. 

The grant assistance will also be used to upgrade and renovate Civil Service Hospital constructed with the Chinese assistance and carry out other post-disaster reconstruction projects agreed upon between the two countries, according to a press statement issued by the Embassy of Nepal in Beijing on Thursday.

The grant agreement was signed by Nepali Ambassador to the China Leela Mani Paudyal and Chinese Vice Minister for Commerce Zhang Xiangchen on behalf of their respective governments.

The projects aim to improve connectivity with China that would promote tourism, trade and investment, enhance the health care services and also improve the living conditions of the people in the earthquake-affected areas through rehabilitation and reconstruction of socio-economic structures damaged by the earthquake, the statement said.

Nepali Ambassador Paudyal expressed sincere appreciation to the Chinese government for its assistance and continued support in the socio-economic development in Nepal.

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