Nepal and Germany on Tuesday signed financial and technical cooperation agreements on 56 million euros in grant.

In a statement, the German Embassy in Kathmandu said the agreement was signed by the joint secretary at the Ministry of Finance Shreekrishna Nepal and the German Ambassador to Nepal Thomas Prinz on behalf of their respective governments.

The grant was the sum pledged in 2022, according to the embassy.

The financial cooperation agreement shall support the private and public sectors to expand energy transmission lines, promote solar energy, and gender equality and improve maternal care and childcare in remote areas in Nepal, reads the statement.

Likewise, the technical cooperation agreement focuses on supporting gender equality and social inclusion in Nepal and local and provincial economic development, especially in western Nepal together with the European Union and Finland.

The agreement shall promote renewable energy and energy efficiency, strengthen quality infrastructure for sustainable economic development and support the health sector strategy in Nepal, the embassy said.

The embassy said Germany has consistently contributed to Nepal’s development efforts in diverse ways over the years, adding it has been actively contributing to the fields of energy, health, and good governance as well as aiding Nepal in meeting its sustainable development goals.

“Through this grant, the German government targets to further enhance its commitment and continue its valuable support to the people of Nepal,” reads the statement.

Speaking at the programme, the ambassador said Germany’s friendship with Nepal is deeply cherished.

“Germany has been supporting Nepal’s hydropower and energy endeavours, among others, for long. Through collaboration and support, we aim to contribute to its continued progress and prosperity,” said Ambassador Prinz.