The Chinese government is going to provide a loan of Rs 13 billion at concessional interest rate.
“The Chinese government has moved forward with the process of providing the concessional loan,” Nepalese ambassador to China, Tanka Karki told Kantipur daily.
The loan totaling $200 million will be used to build Upper Trishuli hydropower project and other development programmes.
The government of Nepal will identify other projects, Karki said.Additionally, the Chinese government has provided a grant assistant of Rs 428.5 million for the implementation of mutually agreed development projects.
An agreement to this effect was signed and exchanged in Kathmandu on Thursday at the Finance Ministry.
The grant assistant is part of the continuing economic and technical cooperation mechanism between the governments of China and Nepal.
The agreement was signed by finance secretary Vidhyadhar Mallik on behalf of Nepal and Zheng Xianglin, ambassador of China to Nepal on behalf of Chinese government.
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