September 10, 2002
 Japan Extends Grant Assistance for Debt Relief Measures
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The Government of Japan has agreed to extend grant assistance of one hundred fifteen million, and forty-nine thousand yen ( 115,049,000), approximately nine hundred and seventy thousand US dollars (US$970,000), or about seventy-five million, seven hundred and two thousand Nepalese rupees (NRs.75,702,000) to His Majesty's Government of Nepal for Debt Relief Measures in Japan's Fiscal Year 2002.
His Excellency Mr. Zenji KAMINAGA, Ambassador of Japan to the Kingdom of Nepal, and Dr. Bimal Prasad Koirala, Secretary of the Ministry of Finance, signed and exchanged Notes today on behalf of their respective governments.
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 would certainly help play, through sincere and effective 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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