Kathmandu, Nepal, February 27, 2022: Much waited Millennium Challenge Corporation (MCC) grant agreement has been ratified from the House of Representatives (HoR) on Sunday.
The grant agreement was endorsed through voice voting at late evening on Sunday.
The meeting also endorsed the 12-point Interpretative Declaration along with the MCC grant agreement.
Finance Minister Janardan Sharma had tabled seeking endorsement on behalf of the Nepal government.
Meanwhile, the US Embassy in Kathmandu has praised the parliamentary ratification of the MCC.
Issuing a press statement shortly after the ratification from the parliament, the US embassy has stated that the MCC agreement will create more jobs for Nepali people, help for a reliable supply of electricity and lower transportation costs in Nepal.
‘The US has always stood with Nepal through monumental changes and supported the country with development aid, disaster response and preparedness assistance, health and education programs and more in the last 75 years of diplomatic relations between the two countries,’ states the statement adding ‘the United States’ relationship with Nepal is broader than one agreement and we will continue to support the country and its democratic values and long-term economic prosperity.’
‘The Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalese,’ states the statement.
