KATHMANDU: China government has announced to offer an 800 million yuan, that is equivalent to USD 181 million, aid to Nepal for this year.
The foreign minister of China, Wang Yi, made the announcement while speaking with Narayan Khadka, a representative from Nepal, on Wednesday in Qingdao. Wang, who is also the State Councillor, invited Khadka on a three-day trip to China.
Following US House Speaker Nancy Pelosi's visit to the autonomous island last week, tensions between China and Taiwan are currently simmering and the journey takes place during this time.
Khadka reaffirmed Nepal's steadfast adherence to the "One China Policy" at the meeting and gave the assurance that the country's territory will not be utilised for any actions against Beijing.
According to a statement released by the Foreign Ministry in this city, Wang reaffirmed China's ongoing and unwavering support for Nepal's sovereignty, independence, and territorial integrity in his speech and pledged to assist in the nation's development efforts in accordance with the priorities of the government in Kathmandu.
Both parties also set up a number of other agreements and understandings in addition to giving Nepal a fresh batch of financial aid, the Ministry of Foreign Affairs noted.
As Nepal is encountering a crippling shortage of chemical fertiliser, China has agreed to provide it.
According to the Ministry, China has promised to seriously explore delivering chemical fertiliser and to investigate the viability of establishing a chemical fertiliser facility in Nepal in response to Nepal's request.