KATHMANDU, Nepal–The European Union said it will grant a financial support of over Euro 6.5 billion for 12 Asian countries including Nepal.
During a two-day programme to discuss development cooperation with authorities from the countries and regional organisations involved, EU Commissioner for Development Andris Piebalgs recently announced the new support for countries and organisations in Asia for the period 2014-2020, according to EU Nepal office sources.
Nepal’s Finance Minister Ram Sharan Mahat had taken part the event in Brussels.
“Twelve countries (Nepal, Afghanistan, Bangladesh, Bhutan, Pakistan, Sri Lanka, Cambodia, Laos, Myanmar, Mongolia, Philippines and Vietnam) in Asia are eligible for bilateral development programmes” the EU delegation in Nepal states.
Meanwhile, European Investment Bank (EIB) has also promised to provide a grant of Rs 16 billion for hydropower projects and transmission lines.
During a meeting with Finance Minister Mahat, EIB director Fransisco De Paula Coelho pledged grants of Rs 1.5 billion for Tanahu Hydropower Project, and Rs 12 billion for transmission lines of Kaligandaki and Marsyangdi corridor within this year.