China announces 900 million RMB development assistance to Nepal


China has pledged to provide 900 million Yuan to Nepal as part of its development assistance. Chinese President Xi Jinping announced 900 million Yuan development assistance to Nepal on Saturday following his meeting with Nepali counterpart Ram Baran Yadav, who is now on a six-day official to China to attend the Boao Forum for Asia Conference.

According to government officials this amount will be particularly spent on expansion and upgradation of Araniko Highway.

On the occasion, Chinese government also announced to offer 1500 scholarships to Nepali individuals in the next five years.