India announced assistance of Rs 1,000 crore to Nepal for reconstruction after the earthquake

Kathmandu. India on Thursday announced a grant of Rs 1,000 crore (Nepali Rupee) for the reconstruction of Nepal during the seventh meeting of the Nepal-India Joint Commission at the Foreign Minister level. Earlier, India had announced grants and loans worth $1 billion to rebuild Nepal after the devastating 2015 earthquake in the Himalayan nation.

An official said the announced assistance of Rs 1,000 crore is new. On this agreement, Indian Foreign Minister S. The signing was done during Jaishankar’s visit to Kathmandu. Jaishankar reached Kathmandu (Nepal) on Thursday on a two-day visit. He paid a courtesy call on President Ramchandra Paudel and Prime Minister Pushpa Kamal Dahal.

The other three agreements are the implementation of ‘High Impact Community Development Projects’ in Nepal, for which India will provide NPR 200 million for each small project in its neighboring nation. The second agreement is for long-term power trade between the two countries, in which Nepal can export up to 10,000 MW of energy over the next 10 years.

Similarly, both sides have initiated a service agreement for nano satellite developed by Nepal Academy of Science and Technology. The agreement was signed between Nepal Academy of Science and Technology and NewSpace India Limited. The second MoU was for cooperation in renewable energy development between Nepal Electricity Authority and NTPC Limited, India, an official said.