Desk Business
“This assistance agreement, through the US Agency for International Development (USAID), outlines the broad development areas of the US and Nepal’s cooperation and collaboration,” according to a statement issued by the US embassy here. “Partnering with the Nepal government, civil society and the private sector, the US assistance will advance Nepal’s sustainable development through strengthened democratic governance, enterprise driven economic growth and increased resilience for communities most at-risk to natural disasters and climate change,” said the statement.
Nepal and the United States signed a USD 659 million “development objective” deal on Thursday to help Nepal achieve its goal of becoming a middle-income country. By December 2026, Nepal hopes to get out of the Least Developed Country category. The money will help Nepal achieve its objective of becoming a middle-income country over the next five years.
Suggestion For You:
“The amount will be transparently implemented through both on and off treasury modalities,” it said. According to the statement, USAID will develop projects under this assistance agreement in collaboration with ministries and implement in accordance with the government rules and regulations.
Ishwori Prasad Aryal, Joint Secretary and Head of International Economic Cooperation Coordination Division at the Finance Ministry, and Sepideh Keyvanshad, USAID/Nepal Mission Director, signed and exchanged the agreement on behalf of their respective governments. He said that Nepal has greatly benefited from the financial and technical assistance extended by the US to help drive Nepal’s socioeconomic development. This year, Nepal and the US are celebrating 75 years of diplomatic relations.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week
China’s premier declares that the country will aim for economic development in the second quarter
Horizon Forbidden West and Gran Turismo 7 are both available for less than £50 in the UK
Pfizer will provide low-cost drugs and vaccines to developing countries
The iPhone The 14 Pro is expected to include the long-awaited always-on functionality
European stocks are falling as new data on economic growth raise concerns about a slowdown.
Will Apple iPhone Day 14 launch will be delayed as a result of COVID-19 restrictions in China
FOREX-Kiwi Rises On Hawkish RBNZ As Dollar Rebounds From One-Month Low
The Weekly Authority: A faster Snapdragon chip is on the way
Zelda: Breath Of The Wild Easter Eggs Display Nintendo’s Attention To Detail
