A memorandum of Understanding (MoU) to this effect was signed and exchanged between the two governments on Thursday, states a press statement released by the Ministry of Finance.[break]
The main objectives of the project are to contribute to respecting the outstanding universal value of Lumbini, the birthplace of Lord Buddha, to conserve the cultural and historic environment and cultural heritages in a more proper way, to present metaphysical foundation templates for the use in design of the Lumbini World Peace City, to create Lumbini as world peace city, a city of Buddhist teaching and learning, among others by sharing Korea´s experience and knowledge.
The project would be implemented within a period of one and half years from the date of its commencement.
Ministry of Federal Affairs, Constituent Assembly, Parliamentary Affairs and Culture, and the Korea International Cooperation Agency (KOICA) would be the implementing agencies for the project on behalf of Nepal and Korea, respectively.
The MoU was signed by Finance Secretary Krishna Hari Banskota and Korean Ambassador to Nepal Mr. IL-Doo Kim.
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