Germany pledges Rs 4.8 billion aid to Nepal

NL Today

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Kathmandu: Nepal and Germany have signed the new development cooperation agreement on Monday in a ceremony held virtually.

The German side has pledged fresh grants of EUR 34.4 million (more than Rs 4.8 billion) for the continuation of German support until the year 2023 for Technical Cooperation and 2025 for Financial Cooperation, according to German Embassy in Kathmandu.

The signing of today follows the negotiations held between Germany and Nepal in November 2020.

“Today’s signing underlines the good relations between our two nations and also our ongoing common efforts for the people of Nepal. With our focal sectors of Health, Sustainable Economic Development, and Energy we are strongly committed to achieving development together with the Nepali people,” said Ambassador Roland Schäfer.

“Besides our bilateral cooperation we see an important role with the civil society, which is an indispensable part of any development effort in Nepal”, the Ambassador added.

The lion’s share of the committed funds will be allocated to the sectors of health (EUR 23.7 m.), energy EUR 17.5 m. and sustainable economic development (EUR 15,4 m.). The geographical focus of the cooperation will remain on the rural regions in Nepal’s Mid and Far West.