India, Nepal cement bilateral ties, ink three agreements

India has extended a $750 million credit line to Nepal for post-quake reconstruction. Photograph:( AFP )

WION New Delhi, Delhi, India Sep 16, 2016, 10.51 AM (IST)
In an effort to bolster bilateral ties, the two South Asian neighbours India and Nepal on Friday inked three agreements following delegation-level talks in the Indian capital, New Delhi. 

The talks chaired by Indian Prime Minister Narendra Modi and his Nepalese counterpart Puhspa Kamal Dahal will add fresh impetus to Nepal's development. 

Modi asserted that India's friendship with Nepal is time-tested and unique and that the two countries have shared objectives of peace and stability. 

"We share our burden during difficult times, just as we celebrate each other's achievements. As immediate neighbours and close friendly nations, peace, stability, and eco prosperity of Nepal is our shared objective," he said in a joint statement with his Nepalese counterpart.

India has extended a fresh $750-million credit line to Nepal for post-earthquake reconstruction. It is above the $1 billion aid that India had announced following the devastating earthquake in the Himalayan nation last April.

The two sides also signed a memorandum of agreement (MoU) for project management consultancy services for upgradation and improvement of road infrastructure in Nepal's Tarai area. 

Another agreement was inked on the first amendatory dollar credit line for post-earthquake reconstruction projects in the country.

Prime Minister Modi emphasised on continued cooperation in the fields of defence and security to guard the open borders. 

"Our security interests are interlinked. We agreed that securing our societies is essential for achieving shared objectives of development and growth," he added.

Modi said he was confident these discussions will help cement the centuries-old relationship and write a new and glorious chapter in their friendship. 

(WION with inputs from agencies)