Nepal has accepted over Rs. 80 billion in grant help from the US Agency for International Development (USAID).
According to Gyanendra Bahadur Karki, Minister of Communication and Information Technology, the Council of Ministers resolved on April 13 to receive Rs 79.71 billion in foreign grants from the US government for various development activities.
Minister Karki stated that the financial assistance agreed upon following the parliamentary ratification of the Millennium Challenge Corporation (MCC) award will be worth $659 million dollars.
Similarly, Nepal opted to take Rs 18 billion in international help from the World Bank’s International Development Organization.
The grant to be received is an additional grant, and it does not include the MCC grant.
Under the MCC program, the US government has provided around Rs 60 billion in grant money.
