The Government of the Republic of Korea and the Government of Nepal signed a Memorandum of Understanding (MoU) to implement the Inclusive Rural Development Project (IRDP) in Bardiya District - a significant move to promote inclusive and sustainable development.

The MoU was signed by Ghanshyam Upadhyaya, Secretary of Ministry of Finance and Park Tae Young, Ambassador of the Republic of Korea in Nepal.

The agreement was formalized in the presence of KOICA, Ministry of Federal Affairs and General Administration (MoFAGA) and various stakeholders. Korean Government through KOICA will spend US$ 8 million for this project. The duration of the project is set until December 31, 2029.

The project will be implemented across eight municipalities in Bardiya District, namely Geruwa Rural Municipality, Badaiyatal Rural Municipality, Rajapur Municipality, Barbardiya Municipality, Madhuwan Municipality, Gulariya Municipality, Bansgadi Municipality, and Thakurbaba Municipality.

This project aims to enhance the capacity of communities in Bardiya District to improve agricultural production, integrate value additions to upgrade the value chain, establish effective market linkages, and scale up ecotourism initiatives, ultimately fostering sustainable and resilient livelihoods and strengthening the local economy.

On behalf of the Government of Nepal, the Municipalities of Bardiya District (MBD) will serve as the implementing agencies. At the federal level, the MoFAGA will coordinate and provide high-level policy guidance to ensure smooth implementation and alignment with national development priorities.

The Finance Secretary expressed strong appreciation for the partnership between the Government of Nepal and the Republic of Korea through KOICA, highlighting the significance of the project in strengthening federal-local collaboration. He emphasized that the project aligns with Nepal’s commitment to empowering local governments and communities. The initiative was described as a model for how decentralized governance can deliver tangible benefits when supported by strategic international cooperation.

During the ceremony, Ambassador Park Tae-Young expressed gratitude for the opportunity to support the development priorities of Nepal through the IRDP in Bardiya. He stressed Korean government’s dedication to inclusive and sustainable development, emphasizing that the project reflects a people-centered approach aimed at creating long-term economic opportunities and environmental resilience.

Similarly, Mooheon Kong, Country Director of KOICA also acknowledged the collaborative spirit shown by all eight municipalities and MoFAGA, expressing confidence that the joint efforts would deliver meaningful results and strengthen bilateral ties between Nepal and Korea.

The Government of the Republic of Korea has been supporting the Government of Nepal through KOICA in various areas of health, vocational training, rural development and IT since 1991. By 2025, total amount of KOICA’s support surpassed Two hundred million US Dollars. Nepal’s designation as a Core Partnership Country by the Government of the Republic of Korea for 15 consecutive years highlights the strong bilateral relationship and commitment to Nepal’s development goals.