India gives Nepal 750-million-dollar credit line for quake aftermath

India on Friday finalized a 750-million-dollar credit line for Nepal's post-earthquake reconstruction following talks between the South Asian neighbours.

Prime Minister Narendra Modi met his Nepalese counterpart Pushpa Kamal Dahal in New Delhi after which agreements on developing roads and the line of credit were signed.

The 750 million-dollar credit line is in addition to India's 250 million dollar grant for the Himalayan nation where at least 8,800 people were killed in earthquakes in April-May last year.

India has also apportioned unutilized funds from a 2014 1-billion dollar credit line for quake reconstruction projects. Nepal has been struggling with reconstruction work in the aftermath of the earthquake, which destroyed 70,000 homes.

Dahal is on a four-day visit to India after his Unified Maoist party came to power last month following the ouster of predecessor KP Sharma Oli.

Relations between Delhi and Kathmandu had soured during Oli's tenure. The Madheshi community, with close family and cultural ties with India, protested for months demanding more autonomy in the country's new constitution. More than 50 people died in protests.

India had closed its borders due to security concerns as the Madheshis carried a blockade shutting off fuel and essential supplies to the rest of the Nepal.

Last update: Fri, 16/09/2016 - 17:07
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