Government of the Republic of Korea and the Government of Nepal Sign Memorandum of Understanding (MoU) for the Integrated Rural Development of Nepal worth US$ 10 Million.
The Government of Nepal and the Embassy of Republic of Korea in Nepal signed the Memorandum of Understanding (MoU) of the project Integrated Rural Development of Nepal through Strengthening Research and Development Capacity of Kathmandu University.
According to a press release issued by KOICA, the MoU was signed by Shankar Prasad Adhikari, Secretary of the Ministry of Finance and Park, Young-sik, Ambassador of the Embassy of the Republic of Korea on 6 February, 2018 at the Ministry of Finance, Sighadurbar, Kathmandu.
Korean Government through KOICA will spend US$ 10 million for this project for 8 years. Through this project KOICA aims to strengthen research and development capacity of the Kathmandu University to improve the living condition and quality of life of rural communities by strengthening their abilities through the application of various technologies and innovations
During the signing ceremony, Korean Ambassador to Nepal H.E Park Young-Sik described the project as the biggest technical cooperation of the Korean government to Nepal and hence showed his high hope for the positive impact of the project. Various representatives from Nepal government, Kathmandu University were present in the signing ceremony.
The government of the Republic of Korea has been supporting the Government of Nepal through KOICA in various areas of education, health, agriculture/rural development, ICT etc since 1991.