India releases 470 million Nepali rupees grant for Tarai roads project in Nepal

• The Government of India has released 470 million Nepali rupees grant for Terai roads project in Nepal. Indian Ambassador to Nepal Manjeev Singh Puri handed over a cheque of the grant to Secretary, Ministry of Physical Infrastructure and Transport of Nepal, Madhusudan Adhikari in Kathmandu Tuesday evening.

• The amount has been released to maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project.

• With this payment, 2.35 billion Nepali rupees have been released so far out of total grant assistance of 8 billion Nepali rupees committed by the Government of India for implementing 14 packages under Postal Highway Project.

• Since 1950, the Government of India has been supporting infrastructure development of Nepal and has provided financial assistance for construction of various Highways, Roads, Bridges, Airports, etc. as part of its multi-sectoral and multi-dimensional India-Nepal Economic Cooperation Programme.

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