India, Nepal sign three agreements
India and Nepal have signed three Memorandum of Understanding (MoUs) for post-earthquake reconstruction, Road infrastructure in Tarai and Line of Credit.
These agreements were inked during the four days (from 15 to 18 September 2016) official state visit of Nepal Prime Minister Pushpa Kamal Dahal Prachanda to India.
MoUs signed are
- Dollar Credit line agreement: India will provide new LoC agreement for US 750 million dollars for post-earthquake reconstruction projects in Nepal.
- First Amendatory Dollar credit line agreement: It was signed between Government of Nepal and EXIM Bank to US 1 billion dollar Line of Credit (LoC) agreement signed in November 2014 for enabling reapportioning of unutilised funds for post-earthquake reconstruction projects in Nepal.
- MoU for Upgradation and Improvement of Road Infrastructure in Terai Area of Nepal: It was signed between Department of Roads, Postal Highway Project of Nepal and National Highways & Infrastructure Development Corporation Limited (NHIDCL) for Project Management Consultancy Services.
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Month: Current Affairs - September, 2016