'Soft loans to Nepal'

India stands ready to make available more soft loans to Nepal for new infrastructure projects, which would enable the neighbouring country to grow at a fast pace, Finance Minister Arun Jaitley conveyed to the Nepalese government during his visit to Kathmandu.

Jaitley called on Nepal President Bidya Devi Bhandari and Prime Minister Pushpa Kamal Dahal ‘Prachanda' during his visit to Kathmandu on Thursday and Friday.

He conveyed to them that India is ready to invest in projects like the Kathmandu-Nijgadh fast-track road, the second international airport at Nijgadh and the Koshi High Dam in Nepal, according to a press release issued by the Ministry of Finance on Friday.

Jaitley also announced that Nepal would soon get exchange facilities for the demonetised high-value Indian currency notes to ease difficulties faced by Nepalese citizens.

He said that the Nepal Rastra Bank (NRB) and the Reserve Bank of India (RBI) would set a modality of exchange soon.