Japan to provide Rs 888m in food aid

KATHMANDU, March 17: Japan has agreed to lend a grant assistance of Rs. 888 million (One billion yen) to the Government of Nepal in food aid.



Secretary of Ministry of Finance (MoF) Rameshwor Prasad Khanal and Japanese Ambassador to Nepal Matsuo Mizuno signed and exchanged an agreement to this effect on Thursday. Japan has been providing food aid to Nepal for the last several years. [break]



Issuing a press release, MoF said the grant assistance will be used exclusively for the procurement of rice and its shipping-related services, including transportation from the exporting country´s ports up to Nepal´s entry point and also international transportation.



"The rice so procured will be delivered to the people of the food-deficit areas of Nepal through the supply of Nepal Food Corporation."



The release further read the grant will contribute to ensure food security in Nepal and also help in stabilization of Nepal´s economy. "The amount received from the sale of the rice will be deposited in the counterpart fund by Nepal Food Corporation which in turn will be utilized for the implementation of economic and social development projects agreed between the two governments."

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