India extends $750 million credit line to Nepal for post-quake

New Delhi: India on Friday extended a fresh $750-million credit line to Nepal for post-earthquake reconstruction.

This was among three agreements signed following delegation-level talks chaired by Prime Minister Narendra Modi and his Nepalese counterpart, Puhspa Kamal Dahal "Prachanda" here.

"Fresh impetus to Nepal`s development. Leaders witness signing of agreements on roads and reconstruction projects," External Affairs Ministry spokesperson Vikas Swarup tweeted.

The $750-million credit line is over and above the $1 billion aid that India announced following the devastating earthquake in the Himalayan nation last April that claimed over 8,000 lives.

The two sides also signed a memorandum of agreement (MoU) for project management consultancy services for upgrading and improving the road infrastructure in Nepal`s Terai area.

Another agreement was signed on the first amendatory dollar credit line for post-earthquake reconstruction projects in Nepal.

Prachanda arrived here on Thursday on four-day visit to India after a new Maoist-led government assumed power last month.

Earlier on Friday, Prachanda was accorded a ceremonial welcome at the Rashtrapati Bhavan here.

Ahead of his talks with Modi, External Affairs Minister Sushma Swaraj called on him at the Rashtrapati Bhavan here.