A Memorandum of Understanding (MoU) was signed Monday between the District Development Committee, Kathmandu, Budhanilkantha Narayan Area Management Committee and Embassy of India, Kathmandu, for providing Indian grant assistance of Rs. 21.76 million for the construction of Mathadhis Building for Budhanilkantha temple under Nepal-India Economic Cooperation Programme.

Budhanilkantha Temple has great religious and cultural significance for Hindus all over the world and thousands of pilgrims apart from tourists from India and elsewhere in the world visit the temple daily, said the statement. 

"The structure of the Mathadhis building has substantially deteriorated over the years. The new Mathadhis building being constructed with Indian assistance will significantly upgrade the infrastructure and facilities at the temple," added the statement.