Millennium Challenge Corporation Discusses Next Steps with Government of Nepal

Millennium Challenge Corporation Discusses Next Steps with Government of Nepal

Oct. 7, 2016, 5:45 p.m. Published in Magazine Issue: Vol 10, No 5, October 7 (Asoj 21, 2073)

Kathmandu – The U.S. Government’s Millennium Challenge Corporation (MCC) Regional Deputy Vice President for Compact Operations, Fatema Sumar, visited Nepal this week to advance development of an MCC compact with the Government of Nepal.

According to a press release issued by U.S. Embassy in Nepal, in meetings with key government officials – including Prime Minister Pushpa Kamal Dahal, Minister of Energy Janardan Sharma, and Minister of Physical Infrastructure and Transport Ramesh Lekhak – Sumar updated the government on new feasibility studies recently launched by MCC as part of a $10 million grant to the Government of Nepal for compact development. The feasibility studies focus on electricity transmission line projects and will inform compact program design and preparation. In addition, Sumar updated government officials on proposed investments in off-grid energy and road transport projects.

“MCC and the Government of Nepal have made significant progress toward developing a compact that will unlock widespread and sustainable economic growth,” said Sumar. “Through our partnership, we will continue to work together to finalize the compact agreement and power sector operational environment that supports the electricity and transport sectors and improve the lives of the people of Nepal.”

Nepal was first selected by MCC’s Board of Directors as eligible for a compact in December 2014. MCC and the Government of Nepal are developing projects that tackle key constraints to economic growth in the country, including the inadequate supply of power and the high cost of transportation.

MCC is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to poor countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. Learn more about MCC at www.mcc.gov.

 

 

 

 

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