KATHMANDU: The United States has agreed to provide an additional $50 million to the Millennium Challenge Corporation (MCC) project in Nepal, the Nepal government and MCC announced.
With this contribution, the total funding available under the MCC Nepal compact will reach $747 million, including $550 million from the US and $197 million from the Nepal government.
The additional funding is expected to help complete priority electricity transmission infrastructure, strengthen Nepal’s energy system, and facilitate regional energy trade, key objectives of the MCC agreement.
The project aims to improve grid reliability and market access, support international connectivity, and promote US best practices and excellence in energy infrastructure development.
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