The Government of the Federal Republic of Germany and Nepal on Friday, signed an agreement on financial cooperation under which the German government will provide overall grant of 22 million Euros for health and energy sectors.
“As part of this grant assistance, the sector programme for health and family planning will be supported with an amount of 10 million Euros. With regard to the promotion of renewable energy, an additional amount of 12 million Euros is intended for the Middle-Marsyangdi Hydroelectric Project (MMHP),” said a press release issued by the embassy of the Federal Republic of Germany.
The release said that the funds are intended for projects that are supported by KfW Development Bank, a German financing agency located in Frankfurt/Main.
“The intergovernmental agreement on financial cooperation is a follow up to the inter-governmental negotiations already held in Kathmandu in November 2006. Today's signing of this agreement is a required step for the release of the funds committed in 2006,” the release said.
The agreement was signed at the Ministry of Finance by Vidyadhar Mallik, secretary at the Ministry of Finance and by His Excellency Ambassador of Germany, Franz Ring.
On the occasion, Ambassador Ring informed that the Germany has so far provided about 790 million Euros assistance for the development of Nepal.
According to the Ministry of Finance, Germany has already given 161.6 million Euro for the MMHP.
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