First Bippa Agreement Of NepalPosted: September 21st, 2021 | Author: Paul | Filed under: Uncategorized | Leave a comment »
On 7 May 2012, Nepal and the EIB signed a Framework Agreement on Financial Cooperation paving the way for increased EIB investment in infrastructure and energy in Nepal. As a result of this agreement, the EIB has already pledged EUR 55 million for the Tanahu hydropower project (140 MW), at a total cost of US$500 million. The EIB also expressed its commitments to immediate additional loans of Rs 1.5 billion for the same project. Discussions are underway on investments of $120 million from the EIB for the Kaligandaki-Marsyangdi Corridor Transport Project and $30 million for the modernisation of the Trishuli Corridor transmission line. Magdalena Alvarez Arza, Vice-President of the European Investment Bank, visited Nepal in June 2014 to develop these commitments. BIPPA is a legal instrument that defines specific rights and obligations to protect foreign investment from discriminatory measures (e.g. B the lack of sound of the guidelines) by the host State. In order to ensure the protection and promotion of investments and to encourage capital flows and commitment to a credible liberal economic policy, countries generally conclude investment protection agreements such as bippa. In principle, it guarantees the reciprocal promotion, promotion and protection of investments, the result of increasing investors` investments. However, the Trade Ministers were unable to agree on duty-free access for 108 Nepalese products on the Bangladeshi market and preferential access for 50 Bangladeshi products on the Nepalese market, as both sides agreed that the list needed to be revised. The EU is Nepal`s largest development partner and second largest trading partner (considering it to be a single trading bloc). Until 2013, EU assistance to Nepal was provided mainly in two ways: on a bilateral basis, through the preparation of successive Country Strategy Papers (PSPs) in close partnership with the Government of Nepal and on a multilateral basis, including all actions outside the PESCO financed mainly by thematic budget lines. Considering the history of the GSP for Nepal, €70 million was allocated to Nepal in the first PESCE 2001-2006 and €114 million for the second PESCE 2007-2013.
The EU`s cumulative contribution to Nepal`s development has spread €360 million to more than 70 projects by 2013. Since 2014, the EU has started channelling its development cooperation through its Multiannual Indicative Programme (MIP). . . .