March 8, 2002
 Japan has Granted a Total of  9.7 Billion in its Fiscal Year 2001
(April 2001 - March 2002).
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The Government of Japan has decided to extend Grant Assistance of one hundred and fifteen million, nine hundred and thirty-eight thousand Yen (115,938,000), equivalent to eight hundred and ninety-seven thousand US dollars (US$ 897,000) or sixty-nine million, three hundred and thirty-one thousand Nepalese Rupees (NRs. 69,331,000), to the Government of Nepal as the Debt Relief Measure in Japan's Fiscal Year 2001.
Mr. Takamichi Okabe, Charge d'Affaires a.i. of Japan to the Kingdom of Nepal, and Dr. Bimal Prasad Koirala, Secretary of the Ministry of Finance, His Majesty's Government of Nepal (HMG/N), signed and exchanged the Notes (E/N) today on behalf of their respective Governments.
The Government of Japan has been extending grants for debt relief with the basic objective of assisting HMG/N in procuring commodities such as construction materials, fertilizer, petroleum products, medicines, transportation related equipment and other materials, which are essential for carrying out development activities in the Kingdom of Nepal.
Today's E/N is the last exchange of Notes in Japan's FY 2001 for the Grant Assistance of the Government of Japan to HMG/N. During this fiscal year, the Government of Japan has extended a total of one billion, nine hundred and twelve million, eight hundred and twenty-two thousand Yen (1,912,822,000) to HMG/N in four tranches under the grant assistance for Debt Relief Measure. The Government of Japan has been extending grant assistance to Nepal for Debt Relief Measure since 1978.
In Japan's FY 2001 (April 2001 - March 2002), the Government of Japan has extended the sum of nine billion, seven hundred and eighteen million, eight hundred and twenty-two thousand Yen (9,718,822,000) to HMG/N under the Grant Assistance of the Government of Japan for contributing to the development of the Kingdom of Nepal, and to the upliftment of the people's life.
On the occasion, Mr. Okabe expressed his hope that the continued support of the Government of Japan to HMG/N in its development efforts could play a significant role in strengthening the existing cordial relationship between the two nations.
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