As per the agreement, Citizens Life will provide financial assistance of Rs 500,000 for the KIOCH-Kathmandu Children's Hospital to be built in Kathmandu.
What you should know
Citizens Life Insurance Company Limited (CLICL) and Kathmandu Institute of Child Health (KIOCH) have signed an agreement for mutual cooperation for the construction of a children's hospital.
As per the agreement, Citizens Life will provide financial assistance of Rs 500,000 for the KIOCH-Kathmandu Children's Hospital to be built in Kathmandu.
The agreement signed on Wednesday was signed by Citizens Life Chairman Pradeep Jung Pandey and KIOCH Founding Chairman Prof. Dr. Bhagwan Koirala. The assistance amount will be transferred to KIOCH as soon as the agreement is signed.
Non-profit organization KIOCH is constructing a 200-bed children's hospital in Budhanilkantha Municipality-7, Kathmandu with the goal of 'making child health services easy, accessible and affordable'. KIOCH has stated that it plans to gradually expand the hospital and establish satellite hospitals in other provinces of Nepal.
As per the agreement, after the successful completion of the project, the name of Citizens Life will be placed on the hospital premises as per KIOCH's donor naming policy. In addition, Citizens Life may inspect the hospital construction site through its representatives if deemed necessary. The agreement also includes a provision for KIOCH to inform Citizens Life about the progress of the project every year.
It is mentioned that the terms of the agreement can be modified by mutual consent of both parties and that the collaboration will continue in the future based on the need, resources and mutual understanding. Both organizations have expressed their commitment to collaborate in the development of child health services by adhering to the principles of transparency and accountability.
The agreement has been signed by Citizens Life's Chief Executive Officer, Poschiraj Poudel, and Chief Operating Officer, Dipendra Khadka, as witnesses.
