China provides $19.2 million aid to Nepal

KATHMANDU -- The Chinese government on Wednesday agreed to grant an assistance package worth 1.92 billion Nepalese rupees ($19.2 million) to Nepal, officials said.

The agreement was signed here by Chinese Ambassador to Nepal Wu Chuntai and Nepal's Finance Secretary Shanta Raj Subedre.

Nepal's Finance Ministry officials said the assistance was provided to fund economic and technical cooperation projects between the two countries.

Madhu Marashaini, joint secretary at the Finance Ministry told Xinhua.

Wu said in order to further develop the friendship between Nepal and China, the Chinese government has been providing assistance on regular basis since the establishment of diplomatic relationship between two countries.

China has been one of Nepal's largest development partner and has been pouring in massive amount of financial and technical support to fund a number of Nepalese project.

Nepali government record shows that the Chinese government has committed $37.2 million worth loan and 29.4 million US dollars aid to Nepal during the first six months of the current fiscal year.