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Germany Pledges 4.8 Billion to Nepal as Assistance

www.reviewnepal.com
  Kathmandu, Nepal      June 14 2021

 

Kathmandu, Nepal, June 14, 2021: The Federal Republic of Germany has announced to provide financial as well as technical assistance of more than Rs 4.80 billion rupees to Nepal under the ongoing bilateral cooperation agreement reached between the two countries. 

The Federal Republic of Germany has made the commitment while signing a memorandum of understanding between the two countries on Monday. Germany’s Ambassador to Nepal Roland Schäfer and Joint Secretary at the Ministry of Finance Shree Krishna Nepal signed a memorandum of understanding to this effect.

During the memorandum signing program organized at the office of the Ministry of Finance in Singhdurbar, Kathmandu, German Ambassador to Nepal Schäfer expressed his commitment on behalf of German government stating that the amount is in the form of grant and will be continued as technical support till 2023 and to the financial assistance till 2025 under the ongoing bilateral cooperation agreement reached between Nepal and Germany.

According to the German embassy in Katmandu, the amount would be provided to the energy and renewable energy, sustainable economic development and health sectors in the mid- and far-western regions of Nepal.