Wednesday , 16 October 2019
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India extends NR 2.1-billion aid to Nepal




India has  extended 2.1-billion Nepalese Rupee (NR) aid to Nepal as eimbursement of the first tranche of housing support to 42,086 government of India-supported beneficiaries in Nuwakot and Gorkha districts, according to the reports here.Indian Ambassador to Nepal Manjeev Singh Puri handed over the amount to Nepal’s Finance Secretary Rajan Khanal.

As part of India’s commitment towards Nepal’s post-earthquake reconstruction, the two countries had signed a Memorandum of Understanding (MoU) for $100-million grant to support reconstruction of 50,000 private houses in the Himalayan nation’s Nuwakot and Gorkha districts.

In September 2016, both countries had agreed to utilise an additional amount of $50 million from the $750 Line of Credit towards payment of third tranche of housing grant to 50,000 hosing beneficiaries supported by the government of India.

As per those previous commitments, India on Friday provided the first tranche to the Nepal government.

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