India's Modi offers Nepal $1 billion loan in regional diplomacy push

  • World Premium
  • Sunday, 03 Aug 2014

KATHMANDU (Reuters) - Indian Prime Minister Narendra Modi offered Nepal $1 billion (798.63 million pounds) in concessional loans to help build power plants and roads during a visit on Sunday aimed at shoring up support in a region where China is making inroads.

Both India and China are vying for political influence in South Asia, home to more than 1.5 billion people, by offering closer integration with their giant economies.

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