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China will provide 80 billion Nepali rupees ($612.52 million) for implementing numerous infrastructure-related projects in Nepal, The Kathmandu Post newspaper reported, citing a statement issued by the private secretariat of Finance Minister Prakash Sharan Mahat.
Beijing is planning to release the financial and economic assistance that was promised since 2008 rather than providing any new financial aid, said officials at the finance and foreign affairs ministers.
The Chinese financial and technical assistance has contributed significantly to Nepal’s development efforts in infrastructure, industrialisation, human resource development, health, education, water resources, and sports, the report said.
(1 US Dollar = 130.63 Nepalese Rupees)
(Writing by P Deol; Editing by Anoop Menon)
