Beijing, Dec 3: The Chinese government has announced that it will provide Nepal with a grant of 500 million RMB worth 9 billion rupees.visiting Prime Minister KP Sharma Oli and Chinese President Xi Jinping, President Xi announced a grant assistance of 500 million RMB to Nepal.

Various issues of bilateral relations and interests were discussed in detail in the very cordial meeting that took place between between Prime Minister Oli and President Xi, said Spokesperson of the Ministry of Foreign Affairs, Joint Secretary Krishna Prasad Dhakal.

During the meeting, President Xi mentioned that Nepal and China are very old and good neighbours and friends, with the relationship between the two countries being based on mutual harmony, respect and cooperation. He also expressed China’s commitment for strong support and collaboration for the development and prosperity of Nepal.

President Xi also said that China is ready to import Nepali goods to the Chinese market and encourage Chinese investors to invest in Nepal.On that occasion, Prime Minister Oli stated that the relationship between China and Nepal is based on the principle of Panchsheel and clarified that the fundamental basis of mutual relations is equality and mutual understanding and trust.

Prime Minister Oli also invited President Xi to visit Nepal in 2025 to mark the 70th anniversary of the establishment of diplomatic relations between the two countries.In response, President Xi expressed his gratitude for the invitation and said that he would visit Nepal at an appropriate time.

In course of the meeting, Prime Minister Oli praised China’s rapid development and success that it has achieved in poverty alleviation in a short period of time. Stating that his government is also focused on economic development and transformation with the national aspiration of a ‘Prosperous Nepal and Happy Nepalis’, he said that Nepal wants more cooperation and partnership with its friendly neighbour China in the field of economic development.

Likewise, Prime Minister Oli held a meeting with Chairperson of the National People’s Congress Standing Committee of China Li Zhansu in Beijing today, according to the Prime Minister’s Secretariat. During the meeting, matters relating to exchange of experience in parliamentary practice were discussed.
Prime Minister Oli is currently in the second day of a four-day official visit to the people’s republic of China.