Kathmandu — Under the U.S. government’s Millennium Challenge Corporation (MCC), MCC Nepal is set to receive an additional 50 million U.S. dollars (around 7 billion rupees) in grant assistance.
The Government of Nepal and the U.S. Government’s Millennium Challenge Corporation (MCC) have announced that the grant amount specified in the MCC Nepal agreement will be increased.
With this amount, the total funds available under the agreement have reached 747 million USD (about 106 billion rupees). Of this, the United States will provide 550 million USD, and the Government of Nepal will contribute 197 million USD.
“By improving the reliability of the energy grid and access to markets, this agreement is expected to support international connectivity and promote American excellence and best practices in energy infrastructure,” the Embassy stated. “The agreement also expands opportunities for American technology and companies to enter the Nepali market.”
The U.S. government claims that this financial assistance reflects the enduring partnership between the United States and Nepal. For decades, our countries have worked together to advance economic growth, energy security, and mutual prosperity. According to the Embassy, the MCC Nepal agreement continues this history through high-impact, infrastructure-focused, debt-free, grant-based assistance.
Kantipur
