MCC Implementation Celebrated: Nepal’s PM Prachanda Highlights Economic Growth Opportunities

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Kathmandu, Oct 4: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said that the MCC had opened a new door of economic partnership between Nepal and the USA.

At a special programme organized here Wednesday to celebrate the successful implementation of the Millennium Challenge Corporation (MCC), PM Prachanda expressed his belief that successful implementation of MCC projects would help connect Nepal’s business network with the countries in Asia with large economy, thereby contributing significantly to reduce poverty and ensure economic growth.

On the occasion, PM Prachanda extended his gratitude to the American government for its consistent support to Nepal on its socio-economic development. Stating that the overall economy of Nepal would be strengthened upon the completion of MCC projects, the Head of the Government acknowledged that the American assistance had remained important in Nepal’s development endeavors.

The government and Millennium Challenge Corporation (MCC) under the US government had signed Millennium Challenge Compact on 14 September 2017 and the implementation phase commenced on 29 August 2022. The MCC project ought to be completed within five years since its commencement.

Prachanda was confident that reliable electricity services and road networks could be constructed under the MCC projects. The transmission lines to be constructed under this project would facilitate export of the surplus electricity, thereby contributing to the economic elevation of the country, he viewed.

Similarly, Minister for Finance Dr Prakash Sharan Mahat believed that the Nepali citizens would be benefitted by the improved roads and reliable electricity supply through the implementation of the MCC projects.

He emphasized that there should not be obstruction in the enforcement of the MCC projects that will have investment from the government of Nepal and assured every possible cooperation from the government for the successful completion of such projects.

Similarly, MCC’s Chief Executive Officer (CEO) Alice Albright said that the MCC projects would contribute to Nepal’s economic development as its backbone. She clarified that the projects were developed in collaboration with the government of Nepal, so the Nepal government would implement them.

A delegation led by CEO Albright arrived in Nepal on five-day visit last Sunday to commemorate the successful implementation of the MCC, the USD 500 million grant assistance from the American government to Nepal. (RSS)