China announces Rs. 9 billion grant during PM Oli’s visit

Kathmandu / Dec 3: China has announced a grant amount of about Rs. 9 billion (500 million RMB) to Nepal.

Chinese President Xi Jinping made the announcement during his meeting today with Prime Minister KP Sharma Oli who is on an official visit to China.

According to Krishna Prasad Dhakal, spokesperson of the Ministry of Foreign Affairs, President Xi assured of additional facilities for easing Nepali export to China and encourage Chinese businesses to invest in Nepal.

Nepal and China ink nine-point cooperation agreements

Meanwhile, Nepal and China have inked a nine-point agreement relating to cooperation on connectivity, medical cooperation, industrial and infrastructural development, agriculture, trade, tourism, Investment, Science and Technology, Sports, Disaster Management, people to people contact, and poverty alleviation.

The agreements were made following a bilateral meeting between Prime Minister KP Sharma Oli and his Chinese counterpart Li Qiang at the Great Hall of the People in Beijing this morning, according to PM Oli’s press coordinator Prakash Silwal.

According to the Spokesperson of the Ministry of Foreign Affairs, also joint- secretary Krishna Prasad Dhakal, the nine-point agreement has been inked as a letter exchange between Tokha-Chhahare tunnel roads, a memorandum of understanding (MOU) on trade between Nepal and China has been signed.

Exchange of completion certificate of restoration of Nautale(nine storey)- Basantapur building construction, Protocol on the export of thermally processed buffalo meat.

Likewise, the MOU on development planning, the MOU on financial and technical cooperation, MOU on Voluntary Chinese Language Education have been signed.

In addition, the exchange of letter regarding financial grants and MOU between Communication Technology Nepal Television and Chinese Network Media Group has been noted as a nine-point agreement.

He said that this bilateral agreement will further help in consolation of the bilateral relation between Nepal and China.