Kathmandu, August 12, 2023 – A significant meeting took place today between the Ministry of Finance of Nepal and the United States Agency for International Development (USAID) to evaluate the advancement of projects fueled by American assistance. The gathering aimed to strengthen the long-standing partnership between Nepal and the United States while delving into project achievements, financial flow, and the enhanced engagement of local organizations in budget allocation.
During the inaugural session, Finance Minister Dr. Prakasharan Mahat commended the continuous collaboration between the two nations, particularly in critical sectors such as education, health, agriculture, disaster management, democracy, and good governance. Reflecting on the historical ties between Nepal and the U.S., Minister Mahat emphasized the potential for American support to yield tangible outcomes, specifically emphasizing investment in rural infrastructure. This investment is intended to directly bolster rural roads, access to clean drinking water, and overall livelihood enhancements for Nepali citizens.
American Ambassador Dean Thompson shared his satisfaction with the enduring partnership between Nepal and the United States, spanning various facets of development. The discussions centered around reinforcing the existing partnership by defining roles and responsibilities, assessing project achievements under the USAID cooperation agreement, monitoring fund allocation, and placing a stronger emphasis on involving local organizations in the budgetary process.
Key figures in the meeting included Finance Minister Dr. Prakasharan Mahat, Finance Secretary Arjun Prasad Pokharel, U.S. Ambassador to Nepal Dean Thompson, USAID Mission Director Sepideh Kivanshad, along with officials from both the Ministry and USAID.
The bilateral umbrella agreement, inked last year as part of the Development Objectives Agreement (DOAG), provides a blueprint for Nepal to utilize US aid from its budgetary framework. Over a five-year span, a staggering US $659 million has been earmarked for utilization. The meeting not only underscored the importance of these funds in propelling Nepal’s development initiatives but also highlighted the collaborative spirit that drives the partnership between the two nations.
As Nepal strives to enhance its socio-economic landscape, the outcome of this meeting is poised to play a pivotal role in shaping the trajectory of development projects and further strengthening the bonds between Nepal and the United States.
