The government of  Hungary has agreed to provide a soft loan of 100 million euros (approx Rs 11.20 billion) to Nepal at interest below one percent under its Line of Credit for the development of hydropower sector.

Hungarian Minister for Foreign Affairs and Trade Péter Szijjártó made the pledged during a meeting with Minister for Foreign Affairs  Prakash Sharan Mahat in Geneva on Tuesday, Foreign Ministry said in a statement.

Minister Mahat is currently in Geneva, attending the 34th Session of the United Nations Human Rights Council.

During the meeting, Szijjártó said Hungary also decided to provide 10 fellowships for Nepali students at Hungarain universities every year.