India extends $150-million credit line to Nepal for post-earthquake reconstruction

2016-09-17 2

New Delhi, Sep 16 (ANI): India extended a $150-million credit line to Nepal on Friday, an economy which is still struggling to recover more than a year after a devastating earthquake. Prime Minister Narendra Modi made the announcement during a joint conference with visiting Nepalese Prime Minister Pushpa Kamal Dahal. The 7.8-magnitude quake in April 2015 left about 9,000 people dead and led to losses worth billions of rupees. PM Modi further added that India has extended additional lines of credit for various projects, including phase two of Terai roads and power transmission lines. The visit is being seen as an attempt to rebalance ties with India that chilled under Prachanda's pro-China predecessor. K.P. Oli.