By: D.K Choudhary
India Approves USD 340 million Loan to Nepal for Development Programmes
i. India has sanctioned a soft loan of US dollar 340 million to Nepal for various infrastructure development programmes on February 19, 2017.
ii. The approval paper was handed over by the Indian Ambassador to Nepal Ranjit Rae to Physical Infrastructure and Transport Minister of Nepal Ramesh Lekhak in the presence of Railway Minister Suresh Prabhu.
iii. Under this programme Mahalaki bridge and 15 roads will be constructed in various parts of Nepal.
iv. The move is a part of India’s commitment for strengthening infrastructure in Nepal. The completion of infrastructural projects will not only strengthen physical connectivity but 4-member EPG suggested by Nepal to review accords with Indiaalso emotional bonding between the people of both the countries.
Nepal
♦ Capital: Kathmandu
♦ Currency: Nepalese rupee
♦ Prime minister: Pushpa Kamal Dahal
♦ President: Bidhya Devi Bhandari
