South Korea to provide Rs 2 billion to Nepal for two projects

Published On: September 23, 2022 04:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 23: South Korea is set to provide grants to establish a cyber bureau as well as reintegration of migrant workers.

According to the Ministry of Finance, the grant will be used to strengthen the phased support system for the stable reintegration of migrant workers returning to Nepal from Korea and to establish a cyber bureau with capacity building of the Nepal Police.

Finance Secretary Krishna Hari Pushkar and Ambassador of the Republic of Korea to Nepal, Park Chong-Suk, signed a memorandum of understanding regarding the implementation of both the projects.

At the rate of USD 8 million for both projects, the Korean government will provide a total of USD 16 million (about Rs 2 billion) to Nepal. It is said that the Korea International Cooperation Organization will implement the projects in coordination with the relevant ministries and other government agencies.

The project, which supports migrant workers returning from Korea, aims to contribute to the socio-economic development of Nepal and increase employment by increasing the stable reintegration of immigrants returning from Korea and enhancing their entrepreneurship skills. The project will also create a positive cycle and support system to increase access to information for returnees from Korea in Nepal and increase access to financial assistance through the Agricultural Development Bank Limited.

Similarly, the main objective of the Cyber ​​Bureau project is to strengthen the capacity of Nepal Police against cyber crime. It is also mentioned that there is a plan to build a state-of-the-art building of the Cyber ​​Bureau, provide equipment related to cyber crime investigation and a digital forensic lab, and enhance the capacity of the related manpower of Nepal Police.

In the grant agreement program, Finance Secretary Pushkar said that these two projects will be important for enabling and equipping the Cyber ​​Bureau to control the growing incidents of cyber crime, as well as for establishing the migrant workers who have returned from Korea in their society and increasing employment in Nepal.

Ambassador Park Chong-Suk expressed his concern about the rate of cyber crime that is increasing widely in the world and also in Nepal and said that the cyber crime control project will be an important help to enhance the capacity of Nepal Police to control cyber crime.

He said that a large number of people who returned from Korea through projects related to immigrants who have returned from Korea can use their skills to create jobs through the establishment of enterprises and contribute to the economic growth of the country.

Leave A Comment