Nepal signs MoU related to OBOR with China (with video)

May 12, 2017


Kathmandu - Nepal has signed in the 'One Belt One Road' concept, a development initiative introduced by China.

Foreign Secretary Shanker Das Bairagi and Chinese Ambassador to Nepal Yu Hong, in the presence of Foreign Minster Dr Prakash Sharan Mahat, signed the memorandum of understanding (MoU) related to the OBOR amidst a programme at the Ministry of Foreign Affairs, Singha Durbar Friday.

Talking to media persons after the signing ceremony, the Minister said the understanding was itself a great step in the relationship between the two countries.

"This agreement will bring Nepal and China closer through road connectivity and also the Chinese investment to home thus supporting in efforts aimed at achieving economic development."Addressing the function also attended by Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara, the Foreign Minister said the agreement was important for Nepal which would benefit the country in terms of expansion of road connectivity, construction of railway and an increment in Chinese investment.

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