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<p>Secretary at the Ministry of Finance Shanta Raj Subedi and his Chinese counterpart signed the agreement in the presence of Vice Premier of the State Council of China Wang Yang, Deputy Prime Minister and Minister for Federal Affairs and Local Development Bijay Kumar Gachchhadar and DPM and Foreign Minister Krishna Bahadur Mahara.</p>
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August 16: The Chinese government has pledged to provide financial assistance worth Rs 17.34 billion to Nepal. The grant will be used for repair and maintenance of the Arniko Highway; operation of five customs points that link Nepal and China and construction of bridges along Timure border point in Rasuwa; and for exploration of petroleum products and natural gas.
China agreed to invest in Nepal and explore petroleum products and natural gas as well as to provide financial and technical support during a meeting of the two countries on Tuesday, August 15.
Secretary at the Ministry of Finance Shanta Raj Subedi and his Chinese counterpart signed the agreement in the presence of Vice Premier of the State Council of China Wang Yang, Deputy Prime Minister and Minister for Federal Affairs and Local Development Bijay Kumar Gachchhadar and DPM and Foreign Minister Krishna Bahadur Mahara.
Finance Secretary Subedi said that the financial and technical support from Chinese has created favorable environment for foreign investment in Nepal and has also encouraged the private sector of China to invest in Nepal.
“Technical and financial support were the major issues of the agreement,” said Subedi.
“This agreement will help in bringing five customs points into operation,” he added.
As per the agreement, China will provide Rs 15.24 billion as financial and technical support while Rs 2.1 billion has been set aside for exploration of petroleum products.
According to Finance Secretary Subedi, this deal has been fruitful in attracting private companies of China as well as foreign investment.
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'title' => 'China Pledges Rs 17 Billion for Nepal',
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'summary' => 'The Chinese government has pledged to provide financial assistance worth Rs 17.34 billion to Nepal.',
'content' => '<p>August 16: The Chinese government has pledged to provide financial assistance worth Rs 17.34 billion to Nepal. The grant will be used for repair and maintenance of the Arniko Highway; operation of five customs points that link Nepal and China and construction of bridges along Timure border point in Rasuwa; and for exploration of petroleum products and natural gas.</p>
<p>China agreed to invest in Nepal and explore petroleum products and natural gas as well as to provide financial and technical support during a meeting of the two countries on Tuesday, August 15.</p>
<p>Secretary at the Ministry of Finance Shanta Raj Subedi and his Chinese counterpart signed the agreement in the presence of Vice Premier of the State Council of China Wang Yang, Deputy Prime Minister and Minister for Federal Affairs and Local Development Bijay Kumar Gachchhadar and DPM and Foreign Minister Krishna Bahadur Mahara.</p>
<p>Finance Secretary Subedi said that the financial and technical support from Chinese has created favorable environment for foreign investment in Nepal and has also encouraged the private sector of China to invest in Nepal.</p>
<p>“Technical and financial support were the major issues of the agreement,” said Subedi.</p>
<p>“This agreement will help in bringing five customs points into operation,” he added.</p>
<p>As per the agreement, China will provide Rs 15.24 billion as financial and technical support while Rs 2.1 billion has been set aside for exploration of petroleum products.</p>
<p>According to Finance Secretary Subedi, this deal has been fruitful in attracting private companies of China as well as foreign investment. </p>
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