April 13, 2024, Saturday
Nepal 1:37:26 pm

Tenth India- Nepal LoC Review Meeting concludes

The Nepal Weekly
August 15, 2023

The 10th India-Nepal Line of Credit (LOC) Review Meeting concluded in Kathmandu on Thursday, August 10, 2023.

The meeting was led by Ajay Kumar, Joint Secretary, (Development Partnership Administration-I), Ministry of External Affairs from the Indian side and comprised of officials from Embassy and the EXIM Bank. From Nepal side, the meeting was led by Shreekrishna Nepal, Joint Secretary, Ministry of Finance, Government of Nepal (GoN), and included officials from several departments involved in the execution of projects under GoI’s LOCs.

During the meeting both sides appreciated the strong cooperation in the India-Nepal Developmental Partnership, including through the LOCs extended to Nepal and reviewed the progress of projects which are at various stages of implementation, according Indian Embassy sources.

Visits to ongoing road projects being built with GOI’s LOCs were also carried out by the visiting Indian delegation on August 9 and 11. India’s LOC in Nepal involvement includes four projects, US$ 100 million, US$ 250 million, US$ 550 million and US$ 750 million, totaling US$ 1.65 billion. These LOCs are dedicated towards infrastructure development as prioritized by Nepal government.