May 21, 2024, Tuesday
Nepal 1:37:26 pm

US to provide Nepal USD 659 million assistance

The Nepal Weekly
May 10, 2022

With aim at supporting the Nepal’s goal of graduating to a middle-income country, the US Government is providing Nepal an assistance of USD 659 million. An agreement to this effect was signed on Thursday. The assistance will be utilised in different activities on Nepal’s aim to graduate from the Least Developed Country category by December 2026.

This assistance agreement, through the US Agency for International Development (USAID), outlines the broad development areas of the US and Nepal’s cooperation and collaboration, according to the statement issued by the US embassy in Kathmandu.

Partnering with the Nepal government, civil society and the private sector, the US assistance will advance Nepal’s sustainable development through strengthened democratic governance, enterprise driven economic growth and increased resilience for communities most at-risk to natural disasters and climate change, said the statement.

The amount will be transparently implemented through both on and off treasury modalities, it said.

According to the statement, USAID will develop projects under this assistance agreement in collaboration with ministries and implement in accordance with the government rules and regulations.

Ishwori Prasad Aryal, Joint Secretary and Head of International Economic Cooperation Coordination Division at the Finance Ministry, and Sepideh Keyvanshad, USAID/Nepal Mission Director, signed and exchanged the agreement on behalf of their respective governments.

Remarkably Nepal and the US are celebrating 75 years of diplomatic relations this year.