Finance
During the sixth meeting of the Nepal-India Joint Commission at the Foreign Ministerial level on Thursday, India announced a Rs (Nepalese Rupee) 1,000 crore for Nepal’s reconstruction proposal, an official said.
Prior to the terrible earthquake that struck the Himalayan nation in 2015, India had declared that it would lend $1 billion and grant $1 billion for Nepal’s rehabilitation efforts.
The newly announced assistance of Rs 1,000 crore, however, is a fresh one, an official said.
The agreement was struck while S. Jaishankar, the Indian Minister of External Affairs, was in Kathmandu.
Jaishankar made a courtesy call on Prime Minister Pushpa Kamal Dahal, popularly known as Prachanda, and President Ram Chandra Poudel on his arrival here on Thursday during his two-day visit.
The other three agreements are the implementation of ‘High Impact Community Development Projects’ in Nepal for which India will provide NPR 200 million for each small project in its neighbouring nation.
Another agreement is for the long-term power trade between the two countries wherein Nepal can export up to 10,000 MW of energy in the next 10 years.
In a similar vein, the Nepal Academy of Science and Technology has built a nano satellite, for which both parties have launched a service agreement. Nepal Academy of Science and Technology and NewSpace India Limited signed the agreement.
According to an official, Nepal Electricity Authority and NTPC Limited, India, have another Memorandum of Understanding for cooperation in the development of renewable energy.
Source:IANS
