Pardafas Reporter
Japan has decided to provide grant assistance of up to Rs two billion (Japanese Yen 2,256,000,000) for the implementation of the Project for the Improvement of the Rehabilitation of Irrigation System in the eastern Terai.
In addition to this, it has agreed to ensure concessional loan assistance of up to the amount of Rs 14.2 billion (Japanese Yen 15,901,000,000) for the Urban Transmission and Distribution System Improvement Project in Nepal.
The Embassy of Japan and the Ministry of Finance signed notes on this regard amidst a program at the Ministry of Finance today, the Embassy said in a press statement.
The notes were signed by Kikuta Yutaka, Japan's Ambassador to Nepal, and Krishna Hari Pushkar, Secretary at the Ministry of Finance on behalf of their respective sides.
On the occasion, the ambassador said both agriculture and energy are important sectors for economic development in Nepal. "Agriculture is the major industry in which a large number of Nepal people are engaged.
The development of agriculture is indispensable for the overall development of Nepal. Likewise, as Nepal's hydropower generation capability has been improving, it is important to develop the transmission and distribution system to take full advantage of the progress," he said.
He further stated that "The year 2022 marks the 120th anniversary since the first eight Nepali students were dispatched to Japan for their studies. The two projects signed in this commemorative year symbolize the friendship between two countries and will contribute to Nepal's development."
He added that Japan is committed to extending all possible assistance to Nepal in its endeavor for nation-building and strengthening the friendly relationship between the people of Japan and Nepal. (RSS)
