India offers Rs 470 million to Nepal for Postal Highway Project | Current Affairs, Current Affairs 2018

India offers Rs 470 million to Nepal for Postal Highway Project

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India has gone and issued an additional Rs. 470 million to Nepal for the Phase I of Postal Highway Project. This was given by the Indian Ambassador to Nepal, Manjeev Singh where he went on presented the cheque to the Ministry of Physical Infrastructure and Transport Secretary Madhusudan Adhikari at Singha Durbar in Kathmandu.
The highway project is being constructed in Sothern Plains of Nepal and the amount released will aid in maintaining a fund liquidity for the existing construction of 14 road packages that are there under the Postal Highway Project.
India has been providing financial assistance to Nepal since 1950. The finance given to Nepal is in context to infrastructure development as a part of the multi-sectoral India-Nepal Economic Co-operation program. Considering the recent fund that got released, India till now has released Rs 2.35 billion to Nepal out of the total grant assistance and is committed to implement fourteen packages under 2-6 of Phase I of Postal Highway Project as the Package 1 of the Project comprises of two road sections called Lamki-Tikapur-Khakraula and Dhangadhi-Bhajaniya-Satti road that has already been completed with the help of India’s grant assistance that is worth Rs 1.02 billion. Both these roads were opened for service in 2017 January.
The postal highway is also called as Hulaki Rajmarg. It basically runs across Terai region of Nepal that comes from Bhadrapur in the east to Dodhara in the west side, which cuts across the entire width of the country. This is considered as one of the oldest highways of Nepal that was constructed by Padma Shumsher Jung Bahadur Rana and Juddha Shumsher Jung Bahadur Rana that helped in aiding transportation and also facilitate postal services that covered the entire Himalayan nation.

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