MCC grant not part of Indo-Pacific Strategy, says MCA-Nepal
December 22, 2019 09:15 PM NPT
KATHMANDU, Dec 22: The Millennium Challenge Account-Nepal (MCA- Nepal) has clarified that the US government has been providing a compact grant for infrastructure developments in Nepal through the Millennium Challenge Corporation (MCC) and has appealed for timely ratification of the MCC Compact.
Issuing a press statement here today, the MCA-Nepal, established under the Ministry of Finance through Nepal's own legislative process as a Development Board, has appealed for the timely parliamentary ratification of the Compact which will ensure Nepal's access to the funds for the timely completion of the infrastructure projects to be provided by MCC. The MCC and the government of Nepal had signed a USD 500 million Compact on September 14, 2017, to support upgrades to Nepal's roads and energy infrastructures.
The government of Nepal has also allocated USD 130 million to Compact projects through in-kind and monetary contributions. One of the major highlights of the Compact is the 'Electricity Transmission Project' which includes the construction of a 400-kv transmission line from Nanglebhar of Kathmandu to Butwal. Furthermore, support would be provided for the infrastructure building of 100-km road.
MCA-Nepal's Dr Khadga Bahadur Bista, in a press conference here today, said that the parliamentary ratification for MCC Compact was a must to give impetus to the projects outlined by the Compact. It would also ensure Nepal's easy passage the funds to be used to the projects. He urged one and all not to doubt the intentions of the MCA-Nepal's compact grant since it was merely provided by the American government to Nepal for infrastructure developments in Nepal. Projects run under the MCC's compact grants are in 27 countries across the world including Nepal.