China EximBank to fund new Nepal airport

0 Comment(s)Print E-mail Xinhua, March 23, 2016
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The Export-Import Bank of China (China EximBank) has agreed to fund the rebuilding of an international airport in Pokhara, Nepal devastated by a major earthquake last April.

China EximBank did not reveal the size of the loan to Nepal's finance ministry, but said in a statement on Wednesday that it would cover the parking apron, terminal and control tower.

The project will encourage tourists back to Nepal and make life easier for locals, according to an official with the bank.

A 7.9 magnitude earthquake -- the country's biggest in 80 years -- shook Nepal last April, killing nearly 5,600 people. Millions of people across the country's western and central regions are still affected, including in its largest cities, Kathmandu and Pokhara.

The project will also allow for more trade between China and Nepal.

China EximBank is a government-backed policy bank that financed more than 1,000 projects in 49 countries last year, with outstanding loans up 46 percent from the beginning of 2015 to 520 billion yuan (nearly 80 billion U.S. dollars) at the end of the year. Endi

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