KATHMANDU: Japanese Government has agreed to provide approximately Rs 683.2 million (Japanese Yen 700 million) in grant to Nepal. The grant assistance is under 'the Japan's Grant Aid for the Economic and Social Development Programme'.

An agreement to this effect has been signed and exchanged between Masashi Ogawa, Ambassador of Japan to Nepal, and Rajan Khanal, Secretary of Ministry of Finance of the Government of Nepal on behalf of their respective government amid a programme today at Finance Ministry of Nepal.

The objective of the programme is to reduce poverty by helping build infrastructure and thereby attain stability in developing countries.

Following the event, Dr Khanal said the grant amount would be used in reconstructing structures damaged in natural disasters, and controlling flooding and landslides.

Ogawa said the grant assistance would support the Nepal Government's efforts on development, and in helping those Nepalis affected by natural disasters.