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Three agreements signed between Nepal, India

- Post Report, NEW DELHI

Sep 17, 2016-

Three agreements were signed between Nepal and India on Friday in the presence of Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi in New Delhi.

The three agreements signed on Friday are related to expansion of road in the Tarai area and concessional loans for post-earthquake reconstruction.

The Indian government has agreed to provide $750 million concessional line of credit for post-earthquake reconstruction, according to India’s Ministry of External Affairs.

“I am confident that it would bring relief to millions of people affected by last year’s devastating earthquake in Nepal,” said Modi soon after signing the agreements.

The two sides have also agreed to expedite homework for the implementation of past projects, including construction of a poly-technic institute in Kaski district and to open transit routes including the Visakhapatnam port.

Foreign Secretary Shankar Das Bairagi and his Indian counter-part S Jaishankar signed the agreements on behalf of their respective governments.

Besides these agreements, both sides also discussed a wide range of issues during the delegation level talks between the two prime ministers.

Stating that trade, connectivity, development projects and mutual investments are key pillars of “our partnership with Nepal”, Modi said: “India’s initiatives for open sky, cross-border power trade, transit routes and cross-border connectivity would directly benefit Nepal and help strengthen our economic partnership.”

“PM [Dahal] and I agreed to push for speedy and successful implementation of the ongoing hydro-power projects and development and operationalisation of transmission lines. This would be a source of much needed energy, and revenue generation for Nepal,” said Modi.

Published: 17-09-2016 08:10

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