Chinese President Xi Jinping announces 3.5 billion RMB in assistance to Nepal
October 12, 2019 11:03 PM NPT
KATHMANDU, Oct 12: Visiting Chinese President Xi Jinping has announced a support of 3.5 billion RMB to be provided between 2020 to 2022 for uplifting the living standard of the Nepali people.
Xi made the announcement during his meeting with Nepali President Bidya Devi Bhandari on Saturday evening. On the occasion, Chinese President Xi congratulated Nepal for the development achieved since the assumption of power by the Communist Party and said that China wishes to strengthen the relations established on the principle of peaceful coexistence.
He also announced that work on trans-himalaya railways would move ahead despite its difficulties. President Xi announced a support of 3.5 billion RMB to be provided between 2020 to 2022 for uplifting the living standard of the Nepali people.
The Chinese President also said that the trade imbalance between the two countries could be addressed, while urging Nepal to export competitive goods. Stating that he was encouraging big and quality investments from China, President Xi said support could be sought from the Asian Infrastructure Investment Bank as well.
On the occasion, President Xi signed the visitors' book. Present on the occasion were the Deputy Prime Minister and Defense Minister, the Home Minister, the Minister for Foreign Affairs, Minister for Women, Children and Elderly Citizens, the Minister for Drinking Water and Sanitation, and high-ranking officials of Nepal and China. President Xi arrived in Kathmandu this afternoon on a two-day State visit, at the friendly invitation of President Bidya Devi Bhandari.
President Bhandari said that the agreements and treaties signed with China have built a foundation for Nepal's easy access to the third world countries. During the high-level bilateral talks held at the Office of the President, Sheetal Niwas after welcoming her Chinese counterpart Xi Jinping this evening, President Bhandari said Nepal is now striving to realize the national goal of prosperous Nepal and Happy Nepalis following the establishment of a stable government. Stating that the government is working to transform Nepal into a middle-income country by 2030, she said the government was ever ready to facilitate and safeguard Chinese investments in Nepal.
Extending gratitude for the post-quake support in Nepal, President Bhandari said Nepal was looking forward to receiving Chinese tourists during the Visit Nepal Year 2020 and support for human resource development in the country.