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More Chinese Assistance for Nepal
Jan 07, 2015

China announced to increase its annual assistance to Nepal by over 400 percent 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. 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.

China assured that it will continue to support Nepal in trade, investment, infrastructure, agriculture, tourism, science and technology, power and security. China said that it is willing to support Nepal in whatever way possible, so that Nepal can elevate itself from a less developed nation to a developing nation by 2022.

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

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

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