India has yet again become one of the Official Development Assistance (ODA) donors to Nepal. India came on the fifth spot, displacing China.
India is behind US, UK, Japan and Switzerland in Nepal’s development partners.
As per Nepal finance ministry’s latest Development Cooperation Report on FY 2015/16, India is on fifth spot, disbursing $35.76 million from July 16 2015 to July 15 2016.
In FY 2014/15, India’s name had gone missing from the list of top 5 development partners of Nepal as its ODA disbursement had plummeted by over 50%.
Meanwhile, for FY 2015/16, USAID disbursed $ 118.93 million, United Kingdom $ 89.47 million, Japan $ 45.91 million, Switzerland $ 36.98 million and India $35.76 million.
India provides technical assistance to Nepal through scholarships, training and study tours.
According to Ministry of External Affairs, actual funds to assist Nepal annually are ranging between Rs 300crore and Rs 400crore annually.
India regaining its position in the list of Nepal’s top development partners comes at a time when Nepal has officially agreed to become a part of China’s ambitious, but contentious, OBOR project.