Agreement to Enhance Development Aid Distributed by Indian Embassy

In a significant move towards fostering bilateral cooperation, Nepal and India have officially agreed to implement the High Impact Community Development Project (HICDP). The momentous occasion saw the signing of the HICDP Implementation Agreement by Finance Secretary Krishna Hari Pushkar and Indian Ambassador to Nepal Naveen Srivastava.

The agreement was formalized in the presence of the Foreign Ministers of both nations, underscoring the commitment of both governments to the successful execution of this developmental initiative.

The decision to accept grant aid for the implementation of the HICDP was made during a Cabinet meeting on the 20th of Mangsir. The grant aid, generously provided by the Government of India, is aimed at supporting various community development projects in Nepal.

As per the terms of the agreement reached on Thursday, the Indian Embassy will now have the capacity to invest up to 20 crore in a single project. This financial flexibility is expected to facilitate the effective and efficient implementation of the HICDP, addressing critical community needs and fostering sustainable development.

This collaborative effort reflects the strong diplomatic ties between Nepal and India, highlighting their shared commitment to mutual development and prosperity. The High Impact Community Development Project is anticipated to make a lasting impact on communities in Nepal, promoting socio-economic growth and enhancing the overall well-being of the region.