Kathmandu, Nepal, March 1, 2022: The political maneuver to rectify the Millennium Challenge Corporation (MCC) Compact project, a $500 million grant package provided by the US government to develop Nepal’s energy and transport infrastructure architected by the ruling allies, particularly its head Nepali Congress, is applauded from different sectors even though some are still in the streets to protest it.
The attempt to politicize the MCC by playing with the geopolitical confrontation between US and the neighboring China has almost come to end after all the political parties represent in the parliament have stand in favor of parliamentary ratification of the MCC.
Not only the ruling allies had voted in favor of the MCC but also the main opposition CPN UML extended its moral support to endorse it even though it has been protesting in the parliament with other demands.
The parliamentary ratification of the MCC with interpretative declaration has helped even to face save the political parties that have been protesting demanding amendments in some provisions. Similarly, it has also helped to make clear the questions rose in the streets by the protesting parties including some members of the supporting parties.
The legislative impediment has ended with the ratification of the MCC not only paving the way to implement the MCC project but also to enhance diplomatic relationship between Nepal and the US to get additional grant and assistance in future.
The widely raised questions by the critics were that the MCC would be a part of the US-led Indo-Pacific Strategy (IPS) even though the US had repeatedly been making clear over the allegation.
The interpretative declaration, however, has clearly stated that Nepal will not be part of the IPS nor be part of any military alliance. Similarly, the interpretative declaration has also stated that MCC compact will not be above Nepal’s Constitution and laws, it will be utilized only as financial assistance and audit will be conducted by the Comptroller and Auditor General.
The $500 million compact signed in September 2017 has aimed to increase the availability and reliability of electricity facilitating to construct the transmission line and roads.
