Nepal And Germany Sign Financial and Technical Cooperation Agreements totalling 56 million Euros

Nepal And Germany Sign Financial and Technical Cooperation Agreements totalling 56 million Euros

Jan. 27, 2024, 10:21 a.m.

Shreekrishna Nepal, Joint Secretary at the Ministry of Finance, and. Dr. Thomas Prinz, Ambassador of the Federal Republic of Germany to Nepal, signed Financial and Technical Cooperation Agreements on behalf of their respective governments for a grant assistance totalling up to 56,000,000 Euros (Fifty-six million Euros) from the German government. The grant was the sum pledged by the Federal Republic of Germany in 2022.

The Financial Cooperation Agreement shall support the private and public sector to expand energy transmission lines, to promote solar energy, gender equality and to improve maternal care and childcare in remote areas in Nepal. The Technical Cooperation Agreement focuses to support gender equality and social inclusion in Nepal and local and provincial economic development - especially in Western Nepal (together with the European Union and Finland). Moreover, the Agreement shall promote renewable energy and energy efficiency, strengthen quality infrastructure for sustainable economic development and support the health sector strategy in Nepal.

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2023 marked the 65th anniversary of diplomatic relations between Nepal and Germany. The Federal Republic of Germany has consistently contributed to Nepal’s development efforts in diverse ways over the years. It has been actively contributing to the fields of energy, health, and good governance as well as aiding Nepal in meeting its Sustainable Development Goals. Through this grant, the German Government targets to further enhance its commitment and continue its valuable support to the people of Nepal.

“Our friendship with Nepal is deeply cherished. Germany has been supporting Nepal’s hydropower and energy endeavours, among others, for a long. Through collaboration and support, we aim to contribute to its continued progress and prosperity,” said Ambassador Dr. Thomas Prinz on the occasion.

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