The Japanese Government, based on the request made by the Nepal Government, has approved the utilization of the Counterpart Fund under Food Aid (KR) to the total of six hundred and ten million Nepalese Rupees (NRs.610,000,000) for implementing 7 (seven) projects.
The projects include conservation of Panchmukhi Hanuman Angamchhen, main façade of Durbar (Hanumandhoka) and Degutaleju Temple of Patan with cost of 330,000,000, Irrigation system maintenance projects 150,000,000, Construction of warehouse 30,000,000 establishment of a NTFP/MAPs processing plant in the northern part of Sindhupalchok District 25,000,000, establishment of a wood seasoning and treatment plant in Panchkhal 25,000,000, Karnali Academy of Health Sciences, Jumla (procurement of equipment) 20,000,000 and Health service strengthening program 30,000,000.
According to a press release issued by Japanese Embassy, counterpart Fund was established through the financial assistance extended by the Government of Japan under Food Aid (KR). The Government of Nepal has procured rice through this assistance and sold it in the domestic market. The amount collected from selling the rice was deposited as a Counterpart Fund. The Fund can be utilized for implementing various social and economic development projects through consultation between the two Governments.