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Nepal and China have reached three separate bilateral agreements to further strengthen economic cooperation between the two countries.
Chinese Vice Premier Wang Yang and Deputy Prime Minister Bijaya Kumar Gachchadar, Nepal and China signed agreement on Economic and Technical Cooperation on the occasion of the meeting between the two countries.
Under the Economic and Technical Cooperation Agreement, China agreed to provide 1 billion RMB and technical cooperation for the restoration of earthquake-damaged infrastructures. The government plans to use the money to upgrade and repair Araniko Highway and the construction bridge at the Timure in Rasuwa district.
Separately, Nepal and China have reached the Framework Agreement on Promotion of Investment and Economic Cooperation. This umbrella agreement seeks to bring investments from the Chinese private sector in different areas of infrastructure development including in the construction of roads, tunnels and electricity transmission lines.
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