Nepal Investment Bank Limited (NIBL) recently signed a memorandum of understanding (MoU) with China Development Bank (CDB) with an aim to stimulate Nepal's economic development.

Prithvi Bahadur Pande, chairman and chief executive of NIBL signed the understanding with Jiang Chaoliang, governor of CDB.   

As per the MOU, CDB will grant financial assistance to projects recommended by NIBL to help expedite economic development of Nepal.   

NIBL, on its part, will provide necessary support for participation of CDB in investment and project financing in Nepal. In a linear fashion, CDB will provide the necessary support for participation of NIBL in investment and project financing in China.

It is said that the basic objective of this agreement is to promote and realize the development goals and strategies of the Chinese and Nepali governments and expand bilateral economic and trade relations between China and Nepal.

The agreement also sees both parties setting up a long-term cooperation relationship and choosing areas such as development planning and research, financial cooperation, project cooperation, financial consultancy, information exchange, credit grant, currency swap and other concerned areas of the respective governments to implement the cooperation. nepalnews.com

Write comment

Name: Email:   Title:   Please input the anti-spam code that you can read in the image.

View Comments	Search
As postings are shown online immediately, please be warned of offensive comments

3.26 Copyright (C) 2008 Compojoom.com / Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."