India, Nepal ink seven Agreements
India and Nepal have signed seven agreements for cooperation in various fields.
These agreements were signed at a summit meeting of Prime Minister Narendra Modi and his visiting Nepali counterpart KP Sharma Oli in New Delhi.
This is first official foreign visit of K.P. Sharma Oli after he became Prime Minister of Nepal.
Signed Agreements are
- MoU on Post-earthquake reconstruction assistance: It deals with utilization of US 250 million dollars Grant component India’s Assistance package for Post-earthquake reconstruction assistance of Nepal.
- MoU on strengthening of road infrastructure in Nepal: It will enable speedy implementation of remaining work on 17 Roads in Terai area of Nepal.
- MoU in the field of performing arts: Singed between Nepal Academy of Music and Drama and Sangeet Natak Academy. It aims to enhance relations in the field of performing arts between both countries.
- Letters of Exchange on Transit Routes: (i) Operationalization of Vishakhapatnam Port. (ii) Transit between Nepal and Bangladesh through Kakarbitta-Banglabandh corridor.
- Letters of Exchange on Rail Transport: (i) Rail transit facility through Singhabad for Nepal’s Trade with Bangladesh. (ii) Rail transport to and from Vishakhapatnam.
- Inauguration of Muzaffarpur-Dhalkebar transmission line: Initial supply of 80 MW from Nepal to India. It will be later augmented to 200 MW by October 2016 and 600 MW by December 2017.
- Establishment of Eminent Persons Group (EPG): It will comprise 8 members with each country nominating 4 members. Its mandate would be to review bilateral relations and recommend measures including institutional frameworks in order to enhance bilateral ties.