Japan has extended a grant assistance of 3 hundred Million Japanese Yen equivalent to Rs. 180 million to Nepal for increase of food production to unprivileged farmers.
According to press release issued by Japanese Embassy, the grant will be spent in procuring necessary items to increase food production in Nepal with special emphasis on underprivileged farmers.
The release said the grant will be used for the procurement of fertilizers needed to boost agricultural production to enable the country to meet growing food demand.
"The fertilizer procured under this grant will be utilized as a buffer-stock to counter acute shortages and price hikes and will be supplied to farmers in remote regions where private sector activities are limited. The Government of Nepal provides subsidies for the transportation of fertilizer" the release read.
Ambassador of Japan to Nepal Tsutomu HIRAOKA and Officiating Secretary at the Ministry of Finance Rameshore Prasad Khanal signed and exchanged the notes in this regard on behalf of their respective governments on Monday.
Speaking on the occasion, ambassador HIRAOKA hoped that especially underprivileged farmers, living in remote regions would be benefited by the grant.
"I sincerely hope that the grant extended today will contribute to increase agricultural productivity benefiting people of Nepal and create environment conducive for peace in remote areas of Nepal" he said.
Japan has been extending Grant Assistance for the Increase of Food Production (KR2) to Nepal since 1977.
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