China announces fresh $146 million aid for Nepal

Giving further boost to its economic agenda in Nepal, China has announced a fresh aid package of RMB 900 million (nearly $ 145 million) for the Himalayan nation.

Updated on: Mar 29, 2015, 21:02:40 IST

Hindustan Times | By Utpal Parashar, Kathmandu

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Giving further boost to its economic agenda in Nepal, China has announced a fresh aid package of RMB 900 million (nearly $ 145 million) for the Himalayan nation.

The fresh package comes less than two weeks after China announced to increase its annual aid to Nepal by over five-fold from RMB 150 million to RMB 800 million (nearly $128 million).

The decision was taken during a meeting between Chinese President Xi Jinping and his Nepali counterpart Ram Baran Yadav on Saturday on sidelines of the Boao Forum for Asia in Hainan.

The meeting which lasted nearly 30 minutes is the first meeting between heads of states of the two neighbouring nations since Nepal replaced monarchy and became a republic in 2008.

"The package is in addition to the annual grant and will be used to improve the 115-km long Araniko highway which connects both nations," said Lekha Nath Bhattarai, deputy spokesperson of Nepal's foreign ministry.

China will also be providing training to 1,500 Nepalis in technical and non-technical sectors over the next five years.

Nepal is witnessing increased economic engagement from its northern neighbour which some view as an attempt to end India's dominance in the land-locked country's affairs.

Incidentally, the decision to hike annual grant was taken in December last year following India's move to provide Nepal with a line of credit worth $1 billion.

Nepal has already expressed its willingness to be part of major Chinese initiatives like the $40 billion Silk Road Economic Belt and the Asian Infrastructure Development Bank.

ABOUT THE AUTHOR
Utpal Parashar
A seasoned senior journalist, I have nearly three decades of experience across print, digital, and online platforms, covering political transitions, insurgencies, environmental issues, and development stories in India and Nepal. I am skilled in breaking news, leading editorial teams and launch of newspaper editions. I am adept at leveraging digital trends and social media to expand global reach, with a strong ethical foundation and a reputation for impactful journalism. An alumnus of Asian College of Journalism, I joined Hindustan Times in New Delhi as a trainee reporter in May 1997. Over the years, I have been posted in Dehradun, Kathmandu (Nepal) and Guwahati. Currently, as Senior Assistant Editor at Hindustan Times, I lead a team reporting on India’s northeastern states. My work involves in-depth analysis, and engaging multimedia storytelling across formats, including text, photo, video, and interactive content. I am skilled in producing timely, shareable content, leveraging digital platforms and social media to engage global audiences. Throughout my career with the Hindustan Times, I have led diverse editorial teams, designed capacity-building activities, and supported reporters in developing strong story ideas, ethical reporting practices, digital skills, and fact-checking techniques. As Senior Assistant Editor for Northeast India, I have been responsible for guiding correspondents through complex political, humanitarian, and community-level stories using multimedia formats. Earlier, as Foreign Correspondent in Nepal, I produced extensive reporting during Nepal’s democratic transition and the 2015 earthquake and its aftermath.Read More

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