12/10/2010
India grants Rs 19.37 million grant to Nepal
Kathmandu, Oct 12 (PTI) India today announced Rs 19.37 million assistance to Nepal for implementing projects to prevent floods and soil erosion caused by Kaligandaki river which also threatened a 533-year-old Buddhist monastery near the Tibet border.
An MoU was signed between the Indian Embassy here and District Development Committee (Mustang) for providing the grant assistance for river-training works of Kaligandaki river near Gumba village under Nepal-India Economic Cooperation Programme, according to an Embassy press release.
The river causes severe erosion of banks and land inundation during rainy season causing problems for the residents of its catchment area and also poses a threat to the existence of the 533-year-old Buddhist monastery located at Kagbeni VDC in Mustang district, it said.
The infrastructure to be constructed under Indian grant assistance will help to save the banks of the river below the monastery, thereby protecting it from danger of collapse, the Embassy said.
It will also help to control floods and save the loss of valuable property, crops and human lives caused due to the floods in Kaligandaki river every year.
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