KATHMANDU, APRIL 29
China has pledged a grant of Rs 11 billion for the second phase of the Kathmandu Ring Road expansion project.
According to the Ministry of Physical Infrastructure and Transport and Urban Development, an agreement to this effect was signed on Wednesday between Minister Sunil Lamsal and Chinese Ambassador to Nepal Zhang Maoming at the ministry.
Under the agreement, the Ring Road section from Kalanki to Basundhara will be expanded. The first phase of the project, from Koteshwor to Kalanki, has already been completed.
Speaking at the signing ceremony, Minister Lamsal said the government would ensure smooth implementation of the project and promptly address any challenges that arise. He also expressed confidence in increased Chinese investment in Nepal's infrastructure sector, noting that the development of north–south connectivity remains a government priority.
Ambassador Zhang said more Chinese investors are willing to invest in Nepal if a favourable investment environment is ensured.
(With inputs from RSS)