HomeRecent ArticlesMCC Board Approves $50 Mn Additional Funding for Nepal Compact

MCC Board Approves $50 Mn Additional Funding for Nepal Compact

The Millennium Challenge Corporation (MCC) Board of Directors has approved $50 million of additional funding for the Nepal Compact. This Board action underscores the shared commitment between MCC and the Government of Nepal to advancing Nepal’s development priorities through transformative, high-quality infrastructure projects.

The Millennium Challenge Corporation (MCC) Board of Directors has approved $50 million of additional funding for the Nepal Compact. This Board action underscores the shared commitment between MCC and the Government of Nepal to advancing Nepal’s development priorities through transformative, high-quality infrastructure projects.

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“The additional funding reaffirms our mutual dedication to ensuring the compact’s success in strengthening Nepal’s electricity grid and supporting long-term economic growth,” said MCC Vice President of Compact Operations Cameron Alford.

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Millennium Challenge Corporation MC is an anonymous United States of America government developmental agency with mission of decreasing poverty in the globe through promotion of economic growth. Established in 2004 MCC offer limited-term financial commitments that links expenditures in physical capital to policies and institutions which promote worthy governance procurement, zero corruption and democratic freedom to deserving nations.

In the last year September 2017 the U.S Government’s Millennium Challenge Corporation (MCC) has inked a $500 million compact with the government of Nepal . The compact aims to provide and improve quality road infrastructure, expand and enhance the reliability of electricity supply, and promote NE-India electricity cooperation for investments and economic growth to reduce poverty.

About Millennium Challenge Corporation (MCC)

The Millennium Challenge Corporation (MCC) is a United States Government agency designed to work with some of the poorest countries in the world. Established in January 2004, MCC is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people. MCC’s mission is to reduce global poverty through the promotion of sustainable economic growth.

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