Press
Trust of India
Kathmandu, September
11, 2006
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.
