The government of China has increased its annual grant assistance to Nepal from 88 million of Nepali currency to 1 billion.
Sources at the Ministry of Foreign Affairs have it that during the forthcoming visit of the Chinese Foreign Minister to Nepal, an agreement would be signed between the two sides agreeing to increase the said assistance.
The Chinese Foreign Minister Mr. Yang Jiechi is arriving Nepal on December 2, 2008 at the invitation of Nepal’s Foreign Minister Upendra Yadav.
Reports add, “The grant assistance will be spent on various Chinese funded development projects in Nepal”.
“It is also expected that the Nepali side will raise the issue of Chinese soft-loan or financial assistance for the Upper Trishuli Hydro Electric Project”, reports conclude