The Government of Nepal and the Embassy of Denmark signed a new MoU for the Danida Business Partnerships (DBP) programme in Nepal. The MoU was signed by Secretary of Ministry of Finance, Yuba Raj Bhusal and by the Ambassador of Denmark, Kirsten Geelan.
The Danish Business Facility provides financial support for the preparation and implementation of commercially oriented partnerships between Danish companies and a wide array of Nepali companies. The idea being to help Danish companies mitigate some of the risks inherent in pursuing new business opportunities in Nepal. For almost a decade the programme has contributed to strengthening the capacity of Nepali companies through the transfer of knowledge, sustainable business practices, technology and innovative solutions from the Danish companies in sectors like agriculture, health, IT, handicraft, waste management and tourism.
“Today´s agreement with Government of Nepal will allow us to continue supporting partnerships between private companies from Denmark and Nepal, which has become an important tool for attracting foreign investments and creating jobs in Nepal”, said Ambassador Kirsten Geelan.
DBP support for the innovative partnerships will bring the Danish companies with their expertise and knowhow to Nepal. To enhance such partnerships, the Embassy organized a matchmaking event earlier this year, bringing together 12 Danish and more than 45 Nepali companies. Both the Danish and Nepali companies had the chance to explore the business opportunities and challenges, keeping in mind the core key indicators of the program – creating employment, strengthening business competitiveness and promoting corporate social responsibility.
According to a press release issued by Embassy of Denmark, with this agreement Denmark will able to continue the support on sustainable private sector development in Nepal. The focus of the programme to generating green economic growth, promoting better living/working conditions and reducing poverty in Nepal is also possible through the agreement.