China provides aid to Nepal for road construction

Kathmandu, July 25: China has agreed to provide assistance worth about Rs 460 million (RMB 50 million) to Nepal for the construction of Syaphrubesi-Rasuwagdhi Road and logistic support for the upcoming Constituent Assembly elections.

An agreement to this effect was signed in Kathmandu at the conclusion of the 10th Nepal-China Intergovernmental Economic and Trade Committee meeting at the Finance Ministry.

Finance Secretary Vidyadhar Mallik and Wang Chao, Assistant Minister for Ministry of the People's Republic of China who led the 12 member Chinese delegation, signed the accord on behalf of their respective governments.

A separate letter of exchange was signed for the logistic support to the Constituent Assembly elections. In addition, a letter of exchange was signed for technical support of mobile container/X-ray inspection system in customs.

''I'm sure these agreements will further cement the economic ties between the two countries," Finance Minister Dr Ram Sharan Mahat is quoted as saying.

Mallik said the Chinese delegation responded positively to Nepal's proposal to increase the amount of soft loan to 200 million dollar.

''Besides, we handed over a list of 498 export items seeking zero tariff facility,'' he said.

During the meeting with Dr Mahat, the Chinese Minister Wang reiterated Chinese government's continued support for the implementation of various ongoing projects including scaled up technical and economic cooperation, the finance ministry said.

UNI