Germany to provide 29 mln USD grant to Nepal

Germany Friday signs an agreement with Nepal to offer the latter 22 million Euros (around 29 million U.S. dollars) grant for health and renewable energy sectors.

The agreement was signed at the Ministry of Finance, Kathmandu by Vidyadhar Mallik, secretary at the Ministry of Finance, on behalf of the Nepali government and by Ambassador Franz Ring on behalf of the Government of the Federal Republic of Germany.

"As part of this grant assistance, the sector program for health and family planning will be supported with an amount of 10 million Euros (around 13 million U.S. dollars). With regard to the promotion of renewable energy, an additional amount of 12 million Euros (around 16 million U.S. dollars) is intended for the Middle Marsyangdi Hydropower Electricity Project," a press release issued by the embassy of the Federal Republic of Germany on Friday in Kathmandu reads.

Germany has so far provided around 790 million Euros (around 1 billion U.S. dollars) assistance to Nepal.

Source: Xinhua