Japan agrees to provide Rs 1.83 billion grant assistance to Nepal

KATHMANDU, Aug 31: Japan has agreed to provide a total of around 1.752 billion Japanese Yen (approximately Rs 1.832 billion) as grant assistance to Nepal for the implementation of two different Official Development Assistance projects in Japan's Fiscal Year 2016. 

The grant assistance was pledged on the occasion of the 60th anniversary of the establishment of diplomatic relations between Japan and Nepal. 

Japanese ambassador to Nepal Masashi Ogawa and Secretary of the Ministry of Finance Lok Darshan Regmi sighed and exchanged the two different notes of the agreement on behalf of their respective governments amid a programme in the capital. 

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Japan to provide grant assistance of Rs 1.832 billion

Present at the signing ceremony were Deputy Prime Minister and Minister for Finance of Krishna Bahadur Mahara and State Minister for Foreign Affairs of the Government of Japan Nobuo Kishi. 

Likewise, Jun Sakuma, Chief Representative of Japan International Cooperation Agency (JICA) Nepal and Dr Baikuntha Aryal, Joint Secretary of the International Economic Cooperation and Coordination Division of the Ministry of Finance of Nepal sighed and exchanged the two separate sets of the agreement on behalf of their respective organisations for the projects. 

Under the first set, a grant assistance of around 1.45 billion Japanese Yen (approximately Rs 1.58 billion) provided by Japan is meant for the implement of the Project for Improvement of Aviation Safety Facilities in Major Airports with the purpose of improving the safety and efficiency of air transport in Nepal, said a statement released by Japanese Embassy in Nepal. 

Under the second note , a grant assistance of about 300 million Japanese Yen (over Rs 300 million) provided by Japan will be for the implementation of the School Sector Development Programme, the statement added. 

Meanwhile on the occasion, Japanese ambassador Ogawa noted that the Nepal's government has been strongly focusing on improving basic education. He also expressed his confidence that the objectives envisaged by these projects will be achieved, while also further strengthening the cordial friendship ties between the people of Japan and Nepal, the statement reads. RSS