India sanctions soft loan USD 340 million to Nepal

New Delhi: India has sanctioned a soft loan of 340 million US dollar to Nepal for various infrastructure development programmes.

Indian Ambassador to Nepal Ranjit Rae handed over the approval papers to Physical Infrastructure and Transport Minister of Nepal Ramesh Lekhak in the presence of Railways Minister Suresh Prabhu.

Under this programme Mahalaki bridge and 15 roads will be constructed in various parts of Nepal.

Expressing India’s commitment for strengthening infrastructure in Nepal, Suresh Prabhu said that it is just a beginning. He said that we want Nepal to have world class infrastructure so that members of Indian parliament can one day say why can’t India also do like Nepal.

Expressing thankfulness towards India Ramesh Lekhak said that the sanction of loan is a symbol of close friendship between India and Nepal.

He said that completion of infrastructural projects will not only strengthen physical connectivity but also emotional bonding between the people of both the countries. Earlier both ministers and senior officers of India and Nepal discussed various developmental issues in a closed door meeting.(ANI)