PTI, Kathmandu — Nepal will host the 20th edition of the International Indian Film Academy (IIFA) awards in August, which may give a boost to the Himalayan nation’s ailing tourism sector, badly hit by the 2015 devastating earthquake, a senior official said on Sunday.

The Nepal Cabinet has approved the proposal to host the IIFA in August and agreed to release the necessary budget for the event, CEO of Nepal Tourism Board Dipak Raj Joshi told a press conference.

A 17-member coordination committee has been formed under the leadership of Nepal’s Minister of State for Tourism to convene the three day event towards August end, he added.

Joshi said that informal talks have already been initiated with the concerned Indian agency for hosting the grand event but as of now no formal agreement has been signed.

“The event, which will cost nearly one billion Nepalese rupees, will help Nepal position in international tourism market through the involvement of Bollywood artists and it would be instrumental in promoting Nepal’s tourism ahead of the upcoming ‘Visit Nepal Year 2020’ with the aim to attract two million tourists,” he said.

The gathering of Indian film artists, producers, director, industrialists, traders in Kathmandu will certainly help in promoting and popularising Nepal as a pilgrimage, adventure and natural tourism destination, informed Joshi, adding that this will also help develop image of Nepal as a film city.

He said that preparations for the event will start soon after a formal agreement is reached with the concerned agency, he added.