China increases assistance to Nepal by 400%

China on Friday announced to increase its annual assistance to Nepal by over 400% from 150 million Yuan to 800 million Yuan.

Updated on: Dec 26, 2014, 19:43:34 IST

Hindustan Times | By Utpal Parashar, Kathmandu

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China on Friday announced to increase its annual assistance to Nepal by over 400% from 150 million Yuan to 800 million Yuan.

The decision was taken at a meeting between Chinese foreign minister Wang Yi and his Nepali counterpart Mahendra Bahadur Pandey.

China assured that it will continue to support Nepal in trade, investment, infrastructure, agriculture, tourism,science and technology, power and security.

"We are willing to support Nepal in whatever way we can, so that it can elevate itself from a less developed nation to a developing nation by 2022" Wang told reporters after the meeting.

The Chinese move follows India providing a line of credit worth 1 billion USD to Nepal during Narendra Modi's first visit as Prime Minister to Kathmandu in August.

Replying to a query Wang said that relationship between China and India has improved in recent years and expressed confidence that it will reach new heights in future.

He asked Nepal to take advantage of rapid development in China and India and said it can act as a bridge between the two big nations.

Earlier Wang handed over medical equipment worth 200 million Nepalese Rupees to a hospital which was constructed with Chinese assistance.

This is the first visit by a Chinese foreign minister to Nepal since 2008. Both countries are celebrating 60th anniversary of establishment of diplomatic ties in 2015.

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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