India releases NPR 470 million to government of Nepal for Postal Highway Project

On Tuesday, August 14, 2018, H.E. Ambassador of India Shri Manjeev Singh Puri handed over a Cheque worth NPR 470 million to the Hon’ble Secretary, Minister for Physical Infrastructure and Transport Mr. Madhusudan Adhikari at Singha Durbar, Kathmandu. The amount has been released to maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project. With this payment, a total of NPR 2.35 billion stands released to the Government of Nepal out of the total grant assistance of NPR 8.00 billion committed by the Government of India for implementing 14 packages under Packages 2-6 of Phase I of the Postal Highway Project.

2.       The Package 1 of the Project comprising  two roads (i) Dhangadhi-Bhajaniya-Satti road & (ii) Lamki-Tikapur-Khakraula road have already been completed with Government of India’s grant assistance worth NPR 1.02 billion which were inaugurated on 19 January 2017.

3.       Since 1950, the Government of India has been supporting infrastructure development of Nepal and has provided financial assistance for construction of various Highways, Roads, Bridges, Airports, etc. as part of its multi-sectoral and multi-dimensional India-Nepal Economic Cooperation Programme.

Kathmandu

14 August 2018