Nepal | October 22, 2020

Fin Min Paudel returns home from China

THT Online
Share Now:
Finance Minister Bishnu Prasad Paudel at TIA

Finance Minister Bishnu Prasad Paudel (c) interacting with the mediapersons at the Tribhuvan International Airport (TIA) upon his return after China, on Tuesday, January 19, 2016. Photo: RSS

KATHMANDU: Finance Minister Bishnu Prasad Paudel returned home after attending the first meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in China, on Tuesday.

Upon his arrival, Minister Paudel said he held discussion with his Chinese counterpart on the sidelines of AIIB board of governors’ meeting, on the areas of broad cooperation including fuel supply to Nepal.

Talking to the media at the Tribhuvan International Airport, he said Nepal will submit viable projects related to hydropower generation, transmission and north-south road connectivity projects to the AIIB and try to get funding from next fiscal.

During his China visit, Minister Paudel requested his Chinese counterpart, Lou Jiwei, to fix dates for meetings of high-level bilateral mechanisms ahead of Prime Minister KP Oli’s visit to China, in their meeting last week. In addition, he sought additional support from the Chinese government in supply of petroleum products, infrastructure development and investment promotion.

AIIB, a new China-led multilateral development bank, is said to finance infrastructure projects in Asia. For which, the AIIB is expected to lend around $10 billion-$15 billion annually for the first five to six years and has stated to start operations in the second quarter of 2016.

Nepal had formally become one of the founding members of the AIIB on June 29 after former finance minister Ram Sharan Mahat put the initials on the AIIB charter — officially known as the Articles of Agreement (AoA).

The AoA has so far been signed by 56 countries, making them founding members of the AIIB. The AoA came into force on December 25. Nepali Parliament ratified the AoA in late December.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Seven persons made public for murdering two police personnel in Kailali

DHANGADHI: Police have charged seven persons in connection with murder of two police personnel in Kailali district, on Tuesday. They were apprehended for murdering Assistant Sub Inspector (ASI) Govinda BK, In-charge of Jugeda temporary police beat, and police constable Ram Bahadur Saud. Polic Read More...

Pictures: Bouddhanath, which is usually overwhelmed by spectators, becomes one as an aircraft flies by

KATHMANDU, OCTOBER 21 An aircraft is pictured against the backdrop of Bouddhanath Stupa, a UNESCO World Heritage Site, as it takes off from Tribhuvan International Airport in Kathmandu on Tuesday. The Stupa was overwhelmed with spectators during pre-Covid times. Seen in another picture are two Read More...

US spacecraft touches asteroid surface for rare rubble grab

CAPE CANAVERAL: A NASA spacecraft descended to an asteroid Tuesday and, dodging boulders the size of buildings, momentarily touched the surface to collect a handful of cosmic rubble for return to Earth. It was a first for the United States — only Japan has scored asteroid samples. “Tou Read More...

Harry and Meghan decry 'crisis of hate' in social media

LOS ANGELES: Britain’s Prince Harry and his wife, Meghan, spoke on Tuesday about their campaign against social media negativity, with Harry warning of a “global crisis of hate” that was affecting people’s mental health. The couple, known officially as the Duke and Duchess of Sussex, led an Read More...

No-confidence motion against Karnali chief minister to be withdrawn

KATHMANDU, OCTOBER 20 Co-chairs of the ruling Nepal Communist Party (NCP) KP Sharma Oli and Pushpa Kamal Dahal today reached a four-point deal to settle intra-party dispute in Karnali Province which resulted in a no-trust motion against Chief Minister Mahendra Bahadur Shahi. According to Oli Read More...

UK to infect healthy volunteers in vaccine research trial

LONDON: Danica Marcos wants to be infected with COVID-19. While other people are wearing masks and staying home to avoid the disease, the 22-year-old Londoner has volunteered to contract the new coronavirus as part of a controversial study that hopes to speed development of a vaccine. Marcos a Read More...

Govt told to respect citizens’ right to health services

KATHMANDU, OCTOBER 20 The National Human Rights Commission has taken a serious note of the decision of the Government of Nepal to deny free medical treatment to COVID-19 patients and to hold concerned families responsible for managing the bodies of their members, who succumbed to the contagion. Read More...

Rashford strikes late as United sink PSG again

PARIS: Manchester United got their Champions League campaign underway in emphatic style when Marcus Rashford's late goal earned them a 2-1 victory at Paris St Germain on Tuesday, handing the French champions their first group-stage home defeat in 16 years. Rashford netted three minutes Read More...