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Modi holds talks with Nepal PM, 10 pacts signed

A host of strategic issues, including defence and security, were discussed between Modi and Koirala during their talks that lasted for nearly 40 minutes.

Talking about bilateral ties, Modi said, ‘When we trust each other, we can move forward very quickly.’

‘Projects that have been in limbo for 25 years are moving forward. I feel very satisfied,’ he said after inaugurating the trauma centre built by India at Kathmandu’s Bir Hospital.

Following the talks between the two leaders, the two sides finalised terms of the $1 billion Indian assistance for Nepal’s infrastructure development, which was announced by Modi during his August visit.

The agreement for the $1 billion Line of Credit to Nepal was signed between Nepal’s Finance Ministry joint secretary Madhu Kumar Marasini and David Rasquinha, the deputy managing director of Exim Bank.

Modi, who arrived here earlier today for a three-day visit, will attend the two-day 18th SAARC Summit beginning tomorrow apart from holding bilateral meetings with other SAARC heads of state and government.

India and Nepal on Tuesday signed the Motor Vehicle Agreement under which permit would be given to vehicles to ply on designated routes in each other’s country. They also inked three twin-city pacts between Kathmandu-Varanasi, Janakpur-Ayodhya and Lumbini-Bodh Gaya.
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