KATHMANDU, Jan 30: A team of Nepali and US government officials are selecting different electricity transmission and road maintenance projects on March 17 to utilize grants provided by the US government, according to the Office of the Millennium Challenge Office (OMCO).
A joint meeting of delegates of Millennium Challenge Corporation and OMCO will select the projects from a list of shortlisted projects. The shortlisted projects are currently under review based on feasibility studies carried out by the OMCO itself.
Nepal inks deal with US agency for $500 m grant
MCC has allotted US$ 301 million for Nepal to enhance inclusive and sustainable economic growth in the country. OMCO’s National Coordinator Tulasi Prasad Sitaula informed that the joint meeting scheduled for March 16 and 17 will finalize the projects.
“The decision will pave the way for preparation of detailed project reports within a year and complete them in the next five years,” added Sitaula.
Unlike other development projects in the country, these projects must be completed within the stipulated five years. Sitaula said that the fund to be disbursed has not been finalized yet. Funds can vary depending on the need of the selected projects.
MCC’s Board of Directors selected Nepal for compact grants in December 2014.
The Millennium Challenge Corporation (MCC) is an innovative and independent US foreign aid agency that is helping lead the fight against global poverty. Created by the US Congress in January 2004, it provides grants assistance by focusing on good policies, country ownership, and results.
