Germany has agreed to provide assistance of Rs 7.5 billion for the execution of social, economic development projects in Nepal.
In a negotiation on Nepal-Germany development assistance held at Berlin on Thursday, Germany has decided to extend assistance as grant for coming two years.
According to Nepali Embassy in Berlin, Germany has also agreed to provide additional 15 million Euro in the form of grant for the construction of Lekhnath-Damauli 220 KV transmission line under the Energy Literacy Program.
The Memorandum of Understanding (MoU) on grant assistance was signed by Joint Secretary at Ministry of Finance Shree Krishna Nepal and South Asia regional manager of KFW Development Bank.
It may be noted that the Germany government has been assisting Nepal in the areas of renewable energy, health, town development, peace fund, sustainable economic development and post-earthquake reconstruction.