Kathmandu expects over $2 billion in loans and grants from Delhi
Summary
Kathmandu is seeking more than $2 billion in loans and grants from New Delhi as Prime Minister Balendra Shah prepares for his first bilateral visit to India. The package would fund transmission lines, road upgrades, flood-damaged infrastructure and other major projects, with talks expected to conclude during the visit.
Key Points
- Kathmandu is seeking an economic package of more than $2 billion from New Delhi, including over $1 billion in lines of credit and $1 billion in grants.
- Indian Foreign Secretary Vikram Misri is visiting Kathmandu to prepare for Prime Minister Balendra Shah’s expected visit to India later this month.
- Nepal wants grants for upgrading the Siddhartha Highway and rebuilding infrastructure damaged by the August 26 Bhotekoshi flood.
- The visit is expected to include project inaugurations, groundbreaking ceremonies, and discussions on hydropower, trade, transit and other bilateral issues.
