Business Sphere

Indo-Nepal Relation

- By Our Correspond­ent

The 6th Meeting of India-Nepal Oversight Mechanism, held on 18 July 2018, reviewed the progress of the implementa­tion of all bilateral projects since the reciprocal State Visits by the two Prime Ministers in April-May 2018. The Meeting was co-chaired by H.E. Shri Manjeev Singh Puri, Ambassador of India to Nepal and Mr. Shanker Das Bairagi, Foreign Secretary, Government of Nepal and was attended by projects implementi­ng agencies from both the countries. The Meeting emphasized on the early completion of all bilateral economic and developmen­t cooperatio­n projects by addressing difficulti­es faced by various projects in the process of their implementa­tion, including projects such as Cross-border rail projects, Integrated Check Posts, Terai Roads Project, Cross-border transmissi­on lines, Arun-III hydropower project, etc. Both the sides discussed measures to be undertaken by the respective Government­s and agencies to expedite project implementa­tion and their early completion within specified timeframe. The First Meeting of the Oversight Mechanism was held on 29 November 2016 pursuant to the September 2016 direction of the two Prime Ministers during the State Visit of then Nepali Prime Minister to India. The 7th Meeting of the Mechanism will take place on a mutually convenient date. Ambassador Puri hands over a cheque amounting to NPR 2.1 billion to Dr. Rajan Khanal, Secretary, Min

of Finance towards reimbursem­ent of 1st tranche of housing support to 42, 086 GoI supported beneficiar­ies in Nuwakot and Gorkha H.E. Shri Manjeev Singh Puri, Ambassador of India to Nepal handed over a cheque for a NPR 2.1 billion to Dr. Rajan Khanal, Finance Secretary of Nepal towards reimbursem­ent of 1st tranche of housing support to 42,086 GoI supported housing beneficiar­ies in Nuwakot and Gorkha. As part of India’s commitment towards Nepal’s post-earthquake Reconstruc­tion, on 20 February 2016,both the countries signed a Memorandum of Understand­ing (MoU) for US$ 100 million grant to support reconstruc­tion of 50,000 private houses in Nuwakot and Gorkha districts in Nepal. In September 2016, both the countries agreed to utilize an additional amount of US$ 50 million from the US$ 750 Line of Credit towards payment of third tranche of housing grant to 50,000 hosing beneficiar­ies supported by the Government of India. Since March 2018, the Government of India (GoI) is partnering with United Nations Developmen­t Programme (UNDP) and United Nations Office for Project Services ( UNOPS) for providing Socio- Technical Facilitati­on to housing beneficiar­ies in Gorkha and Nuwakot districts, respective­ly to help home owners ensure that their homes comply with Government of Nepal’s earthquake resilient norms. Government of India remains committed to continue supporting the people and Government of Nepal in their full recovery from the 2015 devastatin­g earthquake­s.

India Builds Library Building for the Nepal Academy, Kathmandu

On 10 July 2018, Rt. Hon. Mr. K.P. Sharma Oli, Prime Minister of Nepal inaugurate­d a three-storied Library Building for Nepal Academy, Kathmandu in the presence of H.E. Shri Manjeev Singh Puri, Ambassador of India to Nepal. The Library had been built with Indian assistance of NRs. 43.94 million. The inaugural event was attended by representa­tives of Ministries of Urban Developmen­t, Culture, Civil Aviation and Tourism, Government of Nepal, community leaders and a large number of friends of the IndiaNepal relationsh­ip. The newly constructe­d library building would provide research and reference facilities to the researcher­s and academicia­ns of India and Nepal. Library would also have facility of an advanced offset press for printing of books. The Nepal Academy plans to further develop the library as a digital library. The library would not only enhance the friendly relation between India and Nepal but also help develop a strong bond among artists and academicia­ns of the two countries. The Government of India, so far, had completed Projects worth NRs. 486.5 million in Kathmandu District. These projects include Schools, Libraries, Hospitals and other health facilities, Art Gallery, Food Laboratory, Hostel Buildings for Women & Girls and Community Centers. There are

 ??  ?? Nepalese Prime Minister Khadga Prasad Oli, left, poses with Indian Prime Minister Narendra Modi
Nepalese Prime Minister Khadga Prasad Oli, left, poses with Indian Prime Minister Narendra Modi
 ??  ?? Prime Minister of Nepal Khadga Prasad Oli
Prime Minister of Nepal Khadga Prasad Oli
 ??  ?? Shri Manjeev Singh Puri, Ambassador of India to Nepal
Shri Manjeev Singh Puri, Ambassador of India to Nepal

Newspapers in English

Newspapers from India