POKHARA, March 17: The Korea International Cooperation Agency (KOICA) has initiated the construction of the Green Venture Zone (GVZ) in Pokhara Metropolitan City starting March 17, aiming to promote recycling and upcycling enterprises as part of a broader green job creation initiative, KOICA said in a press release.
The ceremony at the Exhibition Centre in ward 9 was attended by KOICA Country Director Kong Mooheon, Pokhara Mayor Dhana Raj Acharya, and UNDP Deputy Regional Director for Asia and the Pacific Christophe Bahuet.
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According to the Agency, the GVZ, set to be completed within two years, will serve as an incubator for businesses focused on waste management and sustainable economic practices. KOICA is investing $3.4 million in a four-story, 4,496-square-meter facility, providing financial and technological support to local enterprises. The overall project, backed by $9.8 million from the Government of the Republic of Korea, is implemented by UNDP to enhance municipal waste management and align with global circular economy trends.
Mayor Acharya highlighted the project’s potential to drive sustainability and economic resilience, while UNDP’s Bahuet emphasized the importance of international collaboration in fostering impactful community development. KOICA’s Kong underscored the initiative’s role in advancing environmental sustainability and economic growth in Pokhara, the press release further stated.
Likewise, the GVZ is expected to create jobs, promote waste awareness, and support micro, small, and medium enterprises (MSMEs). The initiative builds on Nepal’s long-standing partnership with KOICA, which has provided over $200 million in aid since 1991 across sectors such as health, vocational training, rural development, and IT, KOICA said.
