9.8 million US dollars aid to Nepal by Korea to create jobs from waste

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South Korea is going to provide a subsidy equal to 9.8 million US dollars to create green jobs through waste management. A memorandum of understanding was signed between the Ministry of Finance and the Korean government on Tuesday.

9.8 million US dollars aid to Nepal by Korea to create jobs from waste

The MoU was signed by Secretary of the Ministry of Finance Madhukumar Marasini and Korean Ambassador to Nepal Taeyong Park. The amount received through the Korean International Cooperation Agency (KOICA) will be transferred to Pokhara Metropolitan City. It is mentioned in the memorandum of understanding that the program will be operated through the United Nations Development Program (UNDP). The coordination of the project will be done by the Ministry of Federal Affairs and General Administration.

According to Mr. Krishna Nepal, Chief Joint Secretary of the International Financial Aid Coordination Division of the Ministry of Finance, green jobs will be created through waste management in collaboration with Pokhara Metropolitan Municipality. According to the ministry, the goal of the project is to increase the capacity of the municipality, promote micro, small and medium enterprises and achieve sustainable development goals.

This amount will be spent for the re-use of unorganized waste from houses in the metropolitan area and financial and technical support to waste-based industries as well as increasing access to the market. In the event organized to sign the

agreement, Finance Secretary Marasini thanked Korea for its support in the economic development of Nepal. Ambassador Park expressed his belief that the unemployed will get employment opportunities through the green employment project and will contribute significantly to the economic development of Nepal. Remembering the completion of 50 years of Nepal-Korea diplomatic relations, he said that Nepal is their priority.

He also promised to provide more support to Nepal in the future. Kong Muheon, resident director of Koika for Nepal, said that this project will also provide knowledge to the general public about how to properly manage waste.