Nepal and China have reached a consensus to expedite the implementation and development of China-funded projects in Nepal reports The Rising Nepal.

In a video conference meeting held between the Ministry of Finance of Nepal and China International Development Cooperation Agency (CIDCA) on Thursday, the leaders of the two countries agreed to enhance the collaboration to complete the projects in time said the daily.

"During the meeting, comprehensive discussions were made regarding the implementation status of the China-funded development projects in Nepal and the upcoming initiations needed to be taken from both sides for expediting the implementation of the pipeline projects," said the MoF.

Secretary of the MoF Sishir Kumar Dhungana highlighted the status of various projects and said, “It is gratifying that the projects undergoing with the grant assistance and concessional loan from China are being smoothly implemented and we are committed to taking the partnership to a newer height with China.”

Vice Chairman of CIDCA Deng Boqing said that China had already taken initiatives to resolve the issues related to the execution of the on-going projects and was committed to carrying forward the important pipeline projects whose preparatory works have been already finalised by the Nepal government.

Similarly, Livelihood Improvement Project in the Northern Region of Nepal, Feasibility Study of Tunnel Construction in Tokha-Chhare and Betrabati-Syafrubesi and China-Nepal Cross-Border Railway and implementation of Exim-Bank concessional loan projects are the other projects that are being carried forward with the Chinese cooperation.

According to the ministry, the Chinese side reaffirmed their commitment towards scaling up the initiations for promoting these projects and stressed on the need to work together to better plan and coordinate for accomplishing these projects.