July 2, 2002
 Japan Provides Debt Relief Measures
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His Excellency Mr. Zenji KAMINAGA, Ambassador of Japan to the Kingdom of Nepal, and Dr. Bimal Prasad Koirala, Secretary of the Ministry of Finance, have signed and exchanged Notes today on behalf of their respective governments.
This is the first grant that has been extended by the Government of Japan to His Majesty's Government of Nepal in Japan's Fiscal Year 2002 (April 2002 - March 2003).
Under this exchange of Notes, the Government of Japan has extended grant assistance to His Majesty's Government of Nepal amounting to eight hundred thirty-two million, two hundred and seventy thousand yen ( 832,270,000), equivalent to six million, nine hundred sixty-seven thousand US dollars (US$6,967,000), or approximately five hundred forty-three million, four hundred and seventy-two thousand Nepalese rupees (NRs.543,472,000) as Debt Relief Measures in Japan's Fiscal Year 2002.
The Government of Japan has been extending grants for debt relief with the basic objective of assisting His Majesty's Government of Nepal in procuring commodities such as construction materials, fertilizer, petroleum products, medicines, transportation-related equipments and other materials, which are essential for carrying out development activities in the Kingdom of Nepal. The Government of Japan has been extending such grant to His Majesty's Government of Nepal for Debt Relief Measures since 1978 to contribute to the development efforts of the Kingdom of Nepal, and to uplift the people's life.
On the occasion, H.E. Mr. KAMINAGA expressed his belief that the continued support of the Government of Japan to His Majesty's Government of Nepal in her development efforts will certainly help play, through sincere and effective procedure and implementation, a significant role in contributing to the debt relief of Nepal and in strengthening the existing cordial and cooperative relationship between the two nations.
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