US Supports Nepal's Prosperity Through MCC Project

The US Government has decided to continue the Millennium Challenge Corporation (MCC) project in Nepal despite previous considerations to halt foreign aid. This project, funded with $500 million from the US and $197 million from Nepal, focuses on regional energy security and infrastructure improvements.

The US Government has confirmed the continuation of the Millennium Challenge Corporation (MCC) project in Nepal, despite a recent policy change to reduce foreign aid. The US Embassy announced this decision, illustrating a commitment to Nepal's development efforts.

The MCC project, valued at $500 million from the US, with an additional $197 million from the Nepalese government, aims to enhance regional energy security and improve infrastructure, particularly electricity transmission and road networks.

This initiative had faced suspension as of a presidential order on January 20. However, a strategic review resulted in the decision to proceed with the project as of July 24, as announced by the Nepalese Finance Ministry.

(With inputs from agencies.)