December 10, 2023, Sunday
Nepal 1:37:26 pm

China pledges Rs. 15 billion assistance to Nepal

The Nepal Weekly
August 16, 2022

Government of People’s Republic of China has pledged 800 million RMB equivalents to Rs. 15 billion grant assistance to Nepal government for the year 2022 to invest in projects selected by the government. This was announced by State Councilor Wang Yi during a state visit paid by Foreign Minister Narayan Khadka to China on Wednesday.

In support of people being affected by disasters and natural calamities in different parts of Nepal, State Councilor Wang Yi also announced to provide Nepal with 3 million RMB worth of disaster relief materials as per Nepal’s request, reads a press release issued by Ministry of Foreign Affairs. “China will also provide Nepal with addition l2 million RMB worth of medical items and logistics,” adds the press release. “The State Councilor also announced that China will provide additional COVID-19 vaccines and COVID-19 related medical assistance as much as Nepal may require.”

Foreign Minister Khadka and his Chinese counterpart Wang Yi held bilateral talks leading their respective delegations in Qingdao, China Wednesday evening. Minister for Foreign Affairs Khadka was on an official visit to China at the invitation of State Councilor Yi.

“The two Foreign Ministers took stock of overall aspects of Nepal-China relations and cooperation and agreed to promote further cooperation in various sectors including trade, connectivity, investment, health, tourism, poverty alleviation, agriculture, disaster management, education, culture, and people-to-people exchanges, among others. Both sides expressed satisfaction over the progress made in a range of matters of bilateral cooperation since the official visit of the State Councilor to Nepal in March, 2022.”

During the meeting, Minister Khadka reiterated Nepal’s unwavering commitment to One China Policy and assured that the Nepali territory will not be allowed to be used for any activity against China, according to the statement. On the other hand, Chinese leader Yi reiterated “China’s continued and unconditional support to Nepal’s sovereignty, independence and territorial integrity and assured to support in Nepal’s development endeavors as per the priority of the Government of Nepal.”

“The two Foreign Ministers expressed their commitment for the timely implementation of the agreements signed and understandings reached during high-level visits in the past.”

They agreed to expedite the implementation of China-assisted projects in Nepal. On this, the Chinese side assured the Nepali delegation that China will soon start the construction works of the second phase of Kathmandu Ring Road Improvement Project, according to the statement. “Yi also announced that China will carry out the feasibility study of Keyrung-Kathmandu Railway under the grant assistance. He also assured support for pre-feasibility study of Nepal-China cross border transmission line as agreed during his official visit to Nepal in March 2022.”

Upon the request of the Nepali side, the Chinese side assured that it will positively consider providing chemical fertilizer to Nepal and to study the feasibility of establishing a chemical fertilizer factory in Nepal, the Foreign Ministry said. ”The State Councilor and Foreign Minister of China agreed to assist Nepal’s agricultural sector.”

Yi also agreed to encourage Chinese investment in developing manufacturing capacity of Nepal and enhance cooperation in the export of Nepali tea and traditional medicinal herbs.

“The two Foreign Ministers decided to establish a joint mechanism for pandemic control in border ports. They also agreed to open Rasuwa-Kyerung and Tatopani-Jangmu ports for two-way trade and Hilsa-Pulang port for one way trade which will take place as soon as the fresh wave of COVID-19 pandemic in Tibet Autonomous Region of China is controlled.”

Following the bilateral talks, the State Councilor and Minister of Foreign Affairs H.E. Wang Yi hosted a banquet in honor of Minister for Foreign Affairs Hon. Dr. Khadka and the members of Nepali delegation. Minister Khadka returned to Kathmandu on Thursday wrapping up his two day visit to China.