India provides Rs one billion support to Nepal | india | Hindustan Times
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India provides Rs one billion support to Nepal

india Updated: Sep 12, 2006 00:12 IST

India on Monday provided Rs one billion as budgetary support to Nepal's new government, which faces the huge task of rebuilding the insurgency-hit Himalayan nation.

Indian Ambassador to Nepal Shiv Shanker Mukherjee handed over the check to Nepal Finance Minister Ram Sharan Mahat at a function in Kathmandu.

The assistance was pledged during Prime Minister Girija Prasad Koirala's visit to India following the restoration of democracy.

Meanwhile, the Asian Development Bank on Monday granted USD 55.2 million to the government of Nepal to help expand feeder road projects in the country. The grant is under the "Road Connectivity Sector I Project", which was approved by the bank on August 11 this year.

The money will be invested for construction and upgradation of some 490-kms feeder roads. An MoU to this effect was signed on Monday afternoon at the Finance Ministry between Finance Secretary Bidhyadhar Mallik and Kihee Ryo, the officer-in-charge of the ADB's Nepal office.