The 9^th India-Nepal LOC review meeting was held on Tuesday in Kathmandu.

The meeting was aimed at reviewing the progress of projects being undertaken in Nepal under Government of India’s (GoI) Lines of Credit (LOCs), ensuring better project implementation and more effective utilisation of the large amount remaining under the said LOCs.

Indian and Nepali government officials along with EXIM bank staff took part in the meeting.

The LOC review meeting was preceded by the inauguration of substations under the Modi-Lekhnath Transmission Line and Substations project in Laha Chowk, Kaski district. After the review meeting, EXIM Bank conducted a workshop in Kathmandu on Wednesday.

The workshop was aimed at familiarising stakeholders in Nepal with India’s LOC policy framework and guidelines and under Indian Development and Economic Assistance Scheme (IDEAS). The workshop also discussed specific issues facing the GOI LOC projects in Nepal. During the workshop, EXIM Bank also shared its experience of implementing projects in other countries and suggested ways towards better utilisation of GoI LOCs in Nepal.

The government of India’s Lines of Credit portfolio is more than $30 billion, spread across more than 60 partner countries. In Nepal, it includes four LOCs totalling $1.65 billion.