Hungary to provide Rs 11.20 billion loan to Nepal at minimal interest rate

Kathmandu / March 1: The Government of Republic of Hungary has agreed to provide loan assistance of 100 million Euro, equivalent to Rs 11.20 billion, at minimal interest rate (below one per cent) to Nepal under its Line of Credit for the development of hydropower sector.

Hungarian Minister for Foreign Affairs and Trade Péter Szijjártó, during his meeting with Minister for Foreign Affairs Dr Prakash Sharan Mahat in Geneva Tuesday informed about this.

Minister Mahat is presently in Geneva in course of attending the 34th Session of the United Nations Human Rights Council (UNHRC).

During the meeting, the Hungarian Minister said the Government of Hungary had decided to give fellowship to 10 Nepali students every year for study in the universities of Hungary.

On the occasion, the two discussed the matters relating to bilateral relations and mutual interests.

The Hungary’s Minister, backing Nepal’s candidacy for the UNHCR member, pledged to vote for Nepal. Minister Mahat addressed to the Session Tuesday itself.

Presently, he is busy with high-level meetings in Geneva. He is scheduled to call on the UNHRC high commissioners Wednesday to discuss about the status of human rights in Nepal and Nepal’s candidacy for the UNHRC member. Nepal has filed its candidacy for the UNHRC member for a period from 2018 to 2020 AD. RSS