Chinese minister arrives in Kathmandu

Kathmandu, July 21

Assistant Commerce Minister of China Zhang Xiangchen today arrived in Kathmandu to discuss Chinese assistance for Nepal’s post-earthquake reconstruction work.

He will hold talks with Finance Secretary Suman Sharma and also call on Prime Minister Sushil Koirala during his four-day stay.

According to Madhu Marasini, who heads the International Economic Cooperation Coordination Division at the Ministry of Finance, the two sides will finalise where to invest China’s aid assurances of over 77 billion rupees.

During the International Conference on Nepal’s Reconstruction that was held in Kathmandu in June, China had assured Rs 77 billion grant assistance, including approximately 48 billion rupees in fresh grant for reconstruction of damaged facilities. During the meeting between Secretary Sharma and Zhang, some memorandum of understanding is also likely to be inked, officials said.

Issues like the signing of the Bilateral Investment Promotion and Protection Agreement will also figure. BIPPA is also expected to be raised during the meeting.