Kathmandu. Nepal’s Prime Minister Pushpa Kamal Dahal and Millennium Challenge Corporation (MCC) CEO Alice P. Albright marked a significant milestone as they celebrated the commencement of the MCC Nepal Compact’s implementation phase. This momentous occasion was marked by a special event organized by MCA-Nepal.
During the event, Finance Minister Dr. Prakasharan Mahat and MCC’s Vice President for Compact Operations, Cameron Alford, formally announced the commencement of the five-year program. This announcement, comprising five pivotal components, signifies the beginning of a journey aimed at ensuring the successful completion of projects within the Compact’s timeframe.
Prime Minister Pushpa Kamal Dahal ‘Prachanda,’ the chief guest at the ceremony, expressed his optimism about the MCC project’s potential to usher in a new era of economic partnership between Nepal and the United States. He noted the project’s role in connecting Nepal to the Asian network, contributing significantly to economic growth, and reducing poverty.
Finance Minister Dr. Prakash Sharan Mahat highlighted the benefits the MCC Nepal Compact would bring to the Nepalese people, including better roads and reliable electricity supply.
CEO Alice P. Albright, speaking at the event, emphasized the collaborative effort between MCC and the Government of Nepal in setting and striving for ambitious economic goals. She reaffirmed MCC’s commitment to stand as a dedicated partner, ready to overcome challenges and create a positive impact on the lives of the Nepali people.
American Ambassador to Nepal, Mr. Dean R. Thompson, lauded the MCC Nepal Compact as a crucial initiative in the longstanding relationship between Nepal and the United States, aimed at supporting economic development in Nepal.
During her visit to Nepal, CEO Alice P. Albright engaged in various activities, including meetings with the government officials and stakeholders involved in the Compact’s implementation. He also emphasized the importance of climate protection through a tree-planting program and explored sustainable technology use within Nepal’s Road Department.
Furthermore, Albright interacted with members of civil society, young entrepreneurs, women entrepreneurs in the hydropower sector, and highlighted the MCC Compact’s substantial contribution to Nepal’s economic development.
The MCC Nepal Compact encompasses financial support for electricity transmission and road maintenance projects, with the aim of reducing project and transportation costs and enhancing the reliability of electricity supply in Nepal. Today’s celebration marks a significant step forward in realizing these objectives and solidifying the partnership between Nepal and the United States.
