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India extends NPR 42.95 Million Grant Assistance to Nepal 

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India extends NRs 42-95 million grant assistance to Nepal

India has extended NPR 42.95 Million (~ INR 2.69 Crores) grant assistance to Nepal for construction of a New Building for a School in Udaypur district of Nepal.

  • A Memorandum of Understanding (MoU) was signed between Indian Embassy & Nepal Ministry of Federal Affairs and General Administration (MoFAGA) for the grant assistance.
  • It will be taken up as a High Impact Community Development Project (HICDPs) scheme under the Nepal-Bharat Maitri Development Partnership programme.

HICDP Scheme

  • Since 2003, under the HICDP Scheme (previously known as Small Development Projects) India has taken up around 520 projects in Nepal in areas of health, education, drinking water, connectivity.
  • India is reconstructing 71 education institutions in Nepal which were damaged due to 2015 Earthquake. The total grant for the reconstruction project is NPR 5800 Million.

Nepal Inaugurates Roads built under Indian Grant

Nepal inaugurated 10 Roads (length of 300 Kms) which were built with Indian grant assistance of NPR 800 Crores (~ INR 501 Crores).

  • The roads were constructed to strengthen the road infrastructure in Terai region of Nepal.
  • The roads also called as Hulaki Rajmarg(also known as Postal Highway) were implemented under the ‘Indian Government Funding and Government of Nepal implementation’ modality.
  • The Terai Road Project and will help in facilitating people-to-people relationships between border areas of India & Nepal.

Recent Related News:

i.On November 3, 2020, Indian Ambassador to Nepal, Vinay Mohan Kwatra handed over a cheque of NPR (Nepalese Rupee) 1 Billion (~ INR 62.5 Crores) to Bishnu Prasad Paudel, Finance Minister of Nepal as reimbursement of Nepal Housing Reconstruction Project.

About Nepal

President – Bidya Devi Bhandari
Capital – Kathmandu
Currency – Nepalese Rupee (NPR)