Narendra Modi pledges US$1 billion in Indian aid to Nepal during visit
Prime Minister Narendra Modi makes pledge during a rare visit to Kathmandu, as part of bid to check China's growing influence in region
Indian Prime Minister Narendra Modi announced US$1 billion in aid to Nepal as he sought to speed up progress on power agreements while also aiming to counter rival giant China's influence in the region.
Announcing the line of credit for various development projects, Modi told the Nepalese parliament that he wanted to help develop the landlocked country's infrastructure.
Admitting it was a mistake that no Indian prime minister had visited Nepal for 17 years, he promised that "this will not happen again".
Modi, a right-wing nationalist, has sought to shore up ties with India's neighbours since sweeping to power at national elections in May, in a bid to check China's sway in the region.
"I hope my visit will open a new chapter in India-Nepal relations, characterised by more frequent political engagement and closer cooperation," he said late on Saturday.
