U.S. providing USD 402mln to Nepal

The U.S. has agreed to provide a financial support of USD 402 million to Nepal in the next five years.

The funds, which will be channelised through the U.S. Agency for International Development (USAID), will be used to reinforce recent gains in democratic processes such as elections, improving governance, expanding proven health interventions in maternal and child health, improving literacy, increasing economic growth, and addressing the challenges of food insecurity and climate change, the U.S. Embassy in Kathmandu informed.

Joint Secretary of the Ministry of Finance Madhu K. Marasini, and Mission Director of USAID/Nepal Dr. Beth Dunford signed an assistance agreement on behalf of the two governments, at the Ministry of Finance in the Capital today.

“This Agreement reflects the American people’s continued commitment to development priorities in Nepal,” the statement quoted Dr. Dunford as saying.

“As a focus country for all three U.S. Presidential Initiatives – Global Climate Change, Global Health Initiative, and Feed the Future – USAID, working together with the Government of Nepal, seeks to build on the efforts and successes of the past and create a Nepal where the most vulnerable are lifting themselves out of extreme poverty and contributing to stable, resilient democratic societies.”

 Source: THT