Kathmandu, June 4:

Eduardo Lechuga Jimenez, chargé d’affaires of the Delegation of the European Commission to Nepal, said the European Union (EU) will provide economic and development assistance to Nepal as long as there is a democratic system in place.

He said, “Sharing of power is important as no party had secured a comfortable majority in the Constituent Assembly.”

The EU has earmarked assistance worth Euro 120 million for the period of 2007 to 2013. The government of Nepal and EU are all set to sign a memorandum of understanding regarding multi-annual Indicative Programme that will provide assistance worth Euro 60 million from 2007-2010. Out of Euro 120 million, the EU will provide Euro 72 million to the education sector, Euro 36 million for stability and peace building and Euro 12 million for trade facilitation and economic capacity building.

Talking to The Himalayan Times about the present political scenario in the country and EU’s assistance to Nepal, Jimenez said the political forces should hurry up to form a government to handle the unique position. “If the administration absorbs the assistance, then the figure might go up.”

He added that additional Euro 5 million was earmarked for cantonments and addressing conflict.