India extends additional credit Line to Nepal

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Prime Minister Narendra Modi  and his Nepal counterpart Pushpa Kamal Dahal  sought to reboot ties as they discussed an inclusive Nepalese constitution,society development agenda ,security and stability in relations in Delhi’s Hyderabad House.

The two sides signed three agreements including an MoU on Management Consultancy Services for Upgradation/Improvement of Road Infrastructure in Terai Area .An Amendatory agreement to 1 billion US dollar Line of Credit agreement signed on November 25,2014 was inked. This will enable reapportioning of unutilised funds for post-earthquake reconstruction projects in

Nepal is determined to forge an enduring partnership with India for its own development and prosperity, Nepalese Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said on Friday.

Nepal, Prachanda told a joint press conference with his Indian counterpart Narendra Modi, had exchanged views on taking concrete steps to elevate ties with India to new heights in all spheres.

Prachanda added that “a peaceful, stable, democratic and prosperous Nepal contributes to peace and stability in the neighbourhood and beyond”.

He said Nepal and India were friends and bound to remain so.

“Our friendship and fraternity stand on the solid foundation of the historical ties of shared culture and civilizational linkage and the time-honoured principles of Panchsheel and the UN Charter.

“As close neighbours, our destinies are interlinked. I shared with Prime Minister Modiji how inspired we are by India’s growth and prosperity under his strong and bold leadership.”

Prachanda told Modi that the promulgation of the Constitution last year by a popularly elected Constituent Assembly was a historic achievement for the people of Nepal.

“You are aware that my government has made serious efforts to bring everyone on board as we enter the phase of implementation of the Constitution in the interest of all segments of Nepali society,” he said.

According to Prachanda, trade, transit and connectivity were other important agendas that were discussed besides Nepal’s concern over growing trade deficit.

Both the leaders discussed Nepal’s request for additional three air entry routes.

He said he had held useful exchanges on the various projects and programmes that have the potential to bring about tangible results to the people of Nepal and India.

Prachanda and Modi addressed the media after holding bilateral talks at Hyderabad House. Prachanda arrived here on Thursday.

“We exchanged views on our respective ‘neighbourhood first’ policies and agreed that this common orientation in our policies should lead to a greater and mutually beneficial partnership for 21st century based on trust and open dialogue,” Prachanda said.

While stressing Nepal’s friendly ties with India, he said he expressed the view that trust and confidence were the pre-requisites of strong and sustainable friendly relations.

And to ensure this, “we should respect each other’s sensitivities and concerns in a spirit of good neighbourliness.

“We shared the view that given our deep and extensive relationship, a meaningful partnership between our two countries is crucial to unlock huge potentials that we have for our mutual benefits.

“I am convinced that without economic prosperity, political transformation cannot be sustainable.”

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