MCC Nepal to receive additional grant of around Rs 7 billion
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MCC Nepal, operated under the US government's Millennium Challenge Corporation (MCC), is set to receive an additional grant of US$50 million (approximately Rs. 7 billion). The Government of Nepal and the US government's Millennium Challenge Corporation (MCC) have announced an increase in the grant amount specified in the MCC Nepal Agreement.
This brings the total amount available under the agreement to $747 million (about Rs. 106 billion), of which $550 million will come from the US and $197 million from the Government of Nepal.
The additional resources will help meet the key objectives of the agreement, which include completing priority electricity transmission infrastructure, strengthening Nepal’s energy system, and enabling the growth of regional energy trade, according to the US Embassy in Nepal.
“This agreement is expected to support international connectivity by improving energy grid reliability and market access, and promote US excellence and best practices in energy infrastructure,” the embassy said. “The agreement also expands opportunities for US technology and companies to enter the Nepali market.”
The US government claims that this financial assistance reflects the enduring partnership between the US and Nepal. For decades, our countries have worked together to advance economic growth, energy security, and mutual prosperity. The MCC Nepal agreement continues that history through high-impact infrastructure-focused, debt-free, and grant-based assistance, the embassy said.
