During his speech, Modi also sought to allay concerns in Nepal about New Delhi's alleged interference in the country's internal politics.

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Modi announces $1bn line of credit for Nepal

During his speech, Modi also sought to allay concerns in Nepal about New Delhi's alleged interference in the country's internal politics. (PTI/PTI)

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"India has decided to provide Nepal with NRs 10,000 crore ($1 billion) as concessional line of credit for various development purposes," he said. (PTI/PTI)

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Apart from the fresh credit line, which is over and above the earlier assistance provided by India, Modi also exhorted Nepali leaders to prepare for an Indian 'IT'. Elaborating on his strategy, Modi said HIT in his lexicon implies - H: Highways, I: I-ways and T: Transways. (PTI/PTI)

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He said these three combined would pave the way for rapid development of the country and India wants to "give this gift at the earliest". (PTI/PTI)

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This was only the second time a foreign leader was addressing the Nepalese Constituent Assembly. In 1990, the then German Chancellor Helmut Kohl had delivered a keynote speech to the Constituent Assembly. (PTI/PTI)

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Earlier, India had provided $250 million line of credit to Nepal through the Exim Bank of India. (PTI/PTI)

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Addressing the Constituent Assembly, Modi assured Nepal that India had no desire to interfere in Nepal's country's matters. "We have always believed that it is not our work to interfere in what you do but to support you in the path you decide to take," Modi said to thunderous applause. (PTI/PTI)

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