Two sign eight MoUs, four on reconstruction

New Delhi, August 24

Nepal and India have signed eight memorandums of understanding, including four related to post-earthquake reconstruction. Nepali and Indian delegates exchanged the MoUs here today, in the presence of visiting Nepali Prime Minister Sher Bahadur Deuba and his Indian counterpart Narendra Modi ahead of their joint press conference.

“I am glad that of the eight MoUs signed, four will take forward the implementation of India’s commitment of $1 billion assistance for post-earthquake reconstruction,” said Modi.

The four MoUs are related to utilisation of housing grant component to support reconstruction of 50,000 houses, and implementation of reconstruction packages in education, cultural heritage and health sectors.

The agreements were signed by Nepal’s Finance Secretary Shanta Raj Subedi and Indian Foreign Secretary S Jaishankar on behalf of the respective governments.

The fifth MoU was signed for the implementation arrangement on cost sharing, schedules and safeguard issues for the construction of Mechi Bridge under Asian Development Bank’s South Asia Subregional Economic Cooperation Road Connectivity Programme (Tranche2) funded by the Indian government. The two neighbours also signed an MoU on drug demand reduction and prevention of illicit trafficking in narcotic drugs, psychotropic substances and precursor chemicals and related matters.

The other two MoUs are on cooperation in the field of standardisation and conformity assessment, and on cooperation between the Institute of Chartered Accountants of India and the Institute of Chartered Accountants of Nepal.