Kathmandu, 17 November: Nepal and China have signed an agreement for the utilisation of Rs15 billion (800 million RMB) in Chinese grants for various projects selected by the Nepali side.
Bishnu Pukar Shrestha, Nepali ambassador to China, and Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA), signed the agreement on the behalf of their respective governments, in on Tuesday Beijing, according to reports.
CIDCA is China’s external aid and development agency that has already made a foray in Nepal with different developmental activities. The government has already given CIDCA the approval to execute 15 small developmental projects in 13 northern districts, where a portion of the aid has already been received by some local bodies in the districts, according to Nepali government officials.
It may be noted that Chinese Foreign Minister Wang Yi had pledged Rs15 billion (800 million RMB) to Nepal for the year 2022 for spending in various projects, during the visit of Foreign Minister Narayan Kahdka to China in the second week of August.
People’s News Monitoring Service
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