KATHMANDU – The Millennium Challenge Corporation (MCC) Board of Directors has approved $50 million of additional funding for the Nepal Compact.
According to the MCC Board of Directors, the latest announcement underscores the shared commitment between MCC and Nepal to advancing Nepal’s development priorities through transformative, high-quality infrastructure projects.
“The additional funding reaffirms our mutual dedication to ensuring the compact’s success in strengthening Nepal’s electricity grid and supporting long-term economic growth,” said MCC Vice President of Compact Operations Cameron Alford in a press statement on January 2.
The MCC is an independent U.S. government development agency working to reduce global poverty through economic growth and was created in 2004. It provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.
RELATED NEWS
Top Headlines
- Relevance of Prithivi Narayan Shah in Contemporary Nepal1
- Scrutinizing Relevance of Prithivi Narayan Shah´s Thoughts and Strategy2
- Photo exhibition at Nepal Army Headquarters3
- NA team sets out on Gorakha-Kathmandu march to promote ‘unification route’4
- Ncell is the FIRST Nepali Telecom Company to receive ISO 27001 and ISO 27701 certifications for information security and data privacy5
- Gold price ups Rs 2,000 per tola6
- PM Oli extends New Year greetings7
- PM Oli, Sri Lankan’s former President meet8
Write your comments