South Asian Business news and information

European Commission is going to give $78 million to Nepal as a part of providing assistance in peace building, education and health sector. EC will be providing the total amount over the three years period from 2007-2010.

People’s Daily Online reported:

Hira Bahadur Thapa, a joint secretary at the Ministry of Foreign Affairs (MoFA), who led the Nepali delegation in the Nepal- EC Joint Commission's meeting held in Kathmandu on Wednesday, said that the assistance would be used for peace building and education as well as health sectors.

The 78 million U.S. dollars aid, which is not include the assistance of the European Union (EU), will be providing to Nepal through other organizations in the area of human rights promotion and supporting internally displaced people, refugees and conflict victims, according to the report.

War-torn Nepal has made a historic deed last year with the Maoists some time ago. So, having seen the ongoing peace in Nepal, foreign people are now coming forward to invest in the country, which is, for sure, a positive side for a country. I am happy that European Commission has come forward to support the Nepalese government in time of peace.