Dec 03, Kathmandu- China is set to provide a grant of Rs 5.6 billion to Nepal to implement various projects.

Nepal and China have signed an agreement on economic and technical cooperation during the Prime Minister's visit to implement projects to be built with Chinese assistance.

According to the International Economic Assistance Coordination Division of the Ministry of Finance, the projects identified by China and Nepal will be built with Chinese assistance through this assistance.

Earlier, in 2017, a similar agreement was signed, and projects were built with Chinese assistance, especially in the high-altitude and mountainous regions. This agreement is said to be a continuation of that.

Similarly, China has also signed an agreement on cash assistance to provide budgetary support to the Nepal government. The amount of cash assistance to be received under this agreement is not disclosed.

In addition, the Chinese government has also signed an MoU with Nepal to receive assistance in various development projects from 2024 to 2029. Although the amount of money Nepal will receive is not mentioned in this MOU, it is stated that the amount received will be a grant.

In addition, China will also assist in the feasibility study of the Tokha-Chhahare tunnel, which it has long been committed to building. A memorandum of understanding in this regard has also been signed between Nepal and China.