China-Nepal
China’s foreign aid agency to foray into Nepal
Kathmandu/UNI: China International Development Cooperation Agency (CIDCA)- China’s external aid and development agency is all set to make a foray into Nepal with plans to finance 15 pilot development projects in the northern districts of the country.
All these pilot projects would be taken up in 13 of the 15 districts that share borders with Tibet.
During Nepali Prime Minister KP Sharma Oli's state visit of to China in June 2018, a framework agreement was signed between Nepal's Ministry of Finance and CIDCA allowing CIDCA to work in Nepal.
As per a report by Kathmandu Post while the money in the project, named "Northern Region Border Development Programme” will be invested by CIDCA, the Ministry of Commerce of China will be the implementing agency.
Apart from these new projects in the northern districts, other projects to be initiated soon by CIDCA include improvement of Araniko Highway and the Ring-Road Improvement Project(Phase II).
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