Overview

China provides NPR 870 million grant to Nepal for budgetary support in 2005

Commitments (Constant USD, 2023)$24,582,861

Commitment Year•2005Country of Activity•NepalDirect Recipient Country of Incorporation•NepalSector•General Budget SupportFlow Type•Grant

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 15, 2005

Start (actual): Sep 15, 2005

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Nepal

Loan desecription

China provides NPR 870 million grant to Nepal for budgetary support in 2005

Narrative

Full Description

Project narrative

On August 15th, 2005, Chinese Foreign Minister Li Zhaoxing and Nepalese Foreign Minister Ramesh Nath Pandey signed an agreement under which China pledged to provide Nepal with USD 12.43 million to help tide over its budget deficit. According to reports, by September 15, the money had been granted. The budgetary assistance came against the backdrop of the ongoing guerilla war between the Communist Party of Nepal and King Gyanendra’s monarchy.