August 13: The review meeting of the 10th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. The meeting reviewed the progress of the project in various stages of implementation. India has provided an amount equal to US$ 1.65 billion to Nepal under the LoC. The Government of Nepal has been investing this amount in priority projects for infrastructure development.

The LoC has financed more than 40 road projects related to hydropower and transmission lines and six projects of housing and reconstruction. Under the LoC project, 1,105 km of road construction has been completed.

It is expected that the transmission lines under the LOC projects including the 220 KV Koshi Corridor, 132 KV Modi Lekhnath, 132 KV Solu Corridor and 400 KV Dhalkebar-Bhithamod will greatly help in power supply.

The Government of India has also agreed to invest US$ 679.8 million under LoC for the construction of Bheri Corridor, Nijgadh-Inaruwa, Gandak Nepalgunj transmission line and substations of these transmission lines.

Joint Secretary of the Indian Ministry of External Affairs (Development Partnership Administration) A Ajay Kumar led the team which included representatives from the Indian Embassy and Exim Bank.

Similarly, Shri Krishna Nepal, joint secretary of the Ministry of Finance, led the delegation of Nepal during the meeting. Officials from various departments involved in the implementation of the LoC projects were also a part of the Nepalese delegation.