Finance Secretary Krishna Hari Pushkar and South Korean Ambassador to Nepal Park Chong-Suk signed an agreement, in Kathmandu, on Friday,
KATHMANDU: Nepal and the Republic of Korea signed the Memorandum of Understanding (MoU) for two projects – Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal and Establishment of Cyber Bureau with Capacity Building for Nepal Police on Friday.
The MoU signing was held at the Ministry of Finance.
For these two projects, Government of Korea agrees to extend a total of US$ 16 million (approximately NRs 2.00 billion) and US $ 8 million each as grant assistance to Nepal, the Ministry of Finance said.
The MoUs to this effect were signed by Krishna Hari Pushkar, Finance Secretary, and Chong-suk Park, Ambassador of the Republic of Korea to Nepal.
The projects will be implemented by Korea International Cooperation Agency (KOICA) in close collaboration and coordination with respective line ministries and other government agencies.
Korea Returnee migrant support project aims to contribute to socio-economic development of Nepal and increase employment through stable reintegration of Korea returnee migrants and enhancement of their entrepreneurship capacity.
The project will also create a virtuous cycle and support system for Korea returnee migrants in Nepal for their enhanced information accessibility, and increased access to financial support through Agricultural Development Bank Limited (ADBL).
Similarly, the main objective of the Cyber Bureau project is to strengthen the anti-cyber-crime capabilities of Nepal Police wherein, the main component of the project is to construct a state-of-art building of the Cyber Bureau, provide equipment related to cyber-crime investigation and digital forensic lab and capacity building of relevant human resources of Nepal Police.
Finance Secretary Pushkar, in his brief remark, expressed the importance of these two projects in equipping and capacitating Cyber Bureau to control increasing cases of cyber-crime as well as reintegrating the returnee migrant workers from Korea to establish themselves in their society and to increase their employability in Nepal.
During the event, Ambassador Park expressed his concerns on the rate of cybercrimes that is massively increasing worldwide and in Nepal as well and he hoped that the Cyber Crime Control Project shall be an important support to strengthen the capacity of Nepal Police to control cybercrimes in Nepal.
Similarly, Ambassador Park stated that through the Korea Returnee Migrants project the large number of Korea returnees can utilize their skills and establish enterprise, which can generate employment and contribute in economic growth of the country.
The government of Nepal has expressed its sincere appreciation to the government of the Republic of Korea for this financial support as well as other support extended to Nepal.