Nepal’s Rahughat Hydropower Project and Indian LOCs
India's flagship economic diplomacy programme, the grant of Lines of Credit (LOC), has had immense success in expanding the country's development cooperation around the world. In the African region, for instance, countries have found LOCs to be appropriate alternatives to traditional development assistance. LOCs are a popular tool among countries looking to fund their development goals. Closer to home, Nepal has received more than $1 billion in d