Kathmandu – The U.S. Government’s Millennium Challenge Corporation (MCC) Regional Deputy Vice President for Compact Operations, Fatema Sumar, visited Nepal this week to advance development of an MCC compact with the Government of Nepal.
In meetings with key government officials – including Prime Minister Pushpa Kamal Dahal, Minister of Energy Janardan Sharma, and Minister of Physical Infrastructure and Transport Ramesh Lekhak – Sumar updated the government on the status of new feasibility studies recently launched by MCC as part of a $10 million grant agreement with the Government of Nepal. The feasibility studies focus on transmission line projects and will inform compact program design and preparation. In addition, Sumar will update government officials on proposed investments in off-grid energy and road transport projects.
“MCC and the Government of Nepal have made significant progress toward developing a compact that will unlock widespread and sustainable economic growth,” said Sumar. “Through our partnership, we will continue to work together to finalize the compact agreement to support the electricity and transport sectors, and improve the lives of the people of Nepal.”
Nepal was selected by MCC’s Board of Directors as eligible for a compact in December 2014. MCC and the government of Nepal are currently developing projects to tackle key constraints to economic growth in Nepal, including the inadequate supply of electricity and the high cost of transport.
MCC is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to poor countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. Learn more about MCC at www.mcc.gov.