China provides NPR 870 million grant to Nepal for budgetary support in 2005

$870K USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Nepal
Country	Nepal
Start Date	Sep 15, 2005
End Date	Mar 17, 2030
Duration	8,949 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`34363`

Grant Description

On August 15th, 2005, Chinese Foreign Minister Li Zhaoxing and Nepalese Foreign Minister Ramesh Nath Pandey signed an agreement under which China pledged to provide Nepal with USD 12.43 million to help tide over its budget deficit. According to reports, by September 15, the money had been granted.

The budgetary assistance came against the backdrop of the ongoing guerilla war between the Communist Party of Nepal and King Gyanendra’s monarchy.

📚 Sources & References

China gives USD 12 million assistance to Nepal
China gives USD 12 million assistance to Nepal
FM Pandey to sign agreements in Beijing
Nepal: Looking Back on 2005
Looking Forward to 2006
Nepal: Beyond Royal Rule Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.