China among top five bilateral donors to Nepal

Xinhua / No Comments Share:
China Railway 25th Bureau Group Co. Ltd. (CRCC) signs a Memorandum of Understanding (MOU) on Dec. 19, 2018, with Nepal’s Kathmandu Metropolitan City (KMC) to conduct a feasibility study for the construction of a monorail project in the Nepali capital. Xinhua

KATHMANDU (Xinhua) – China is among top five bilateral donors in disbursing highest amount of foreign aid to Nepal in the last fiscal year 2017-18 that concluded in mid-July 2018, according to Nepal’s Finance Ministry.

While Britain, the US and Japan have been traditionally big aid providers to Nepal, China and India are late entrants in the league of top foreign aid providers, according to the ministry.

China’s contribution to overall foreign aid to Nepal in the last fiscal year stood at 3.6 percent, according to a report from the ministry.

Nepal received a total of US$1.62 billion from bilateral and multilateral donors in the last fiscal year.

Shreekrishna Nepal, chief of the international economic cooperation coordination division at the Finance Ministry, told Xinhua on Wednesday that the Chinese aid has been utilised in a number of important infrastructure projects.

“Expansion of the Ring Road in Kathmandu which surrounds the key city area of the city, an international airport in Pokhara, a tourism city in western Nepal, expansion of Civil Hospital in Kathmandu, among others, are notable projects undertaken with Chinese assistance,” he said.

Likewise, Chinese assistance has also been used in construction of a hydropower project and a transmission line, post-earthquake reconstruction, budgetary support to the Nepali government, among others, according to the report.

Share and Like this post

Related Posts

Previous Article

UN refugee agency welcomes Ethiopia’s revised refugee law

Next Article

Britain funds US$4.5m for UXO clearance in Laos