Government publishes MCC agreement in Nepal Gazette

KATHMANDU: The government has published the US aid agency, Millennium Challenge Corporation (MCC) Nepal Compact in the Nepal Gazette.

The Ministry of Law, Justice and Parliamentary Affairs published the Compact, which has been ratified by the House of Representatives with an “interpretative explanation”, on Thursday.

Both the Government of Nepal and the MCA Nepal Compact are committed to the common objective of promoting Nepal’s economic development and poverty alleviation.

The agreement is expected to strengthen Nepal’s good governance, economic independence, and investment in citizens.

According to the agreement, the aim is to increase power consumption by facilitating energy trade and improving the availability and stability of power supply in the power grid of Nepal, and to maintain the quality of roads in the strategic road network.