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US Provides Grant Assistance to Nepal
The United States has agreed to provide a grant assistance of 18.7 million U.S. dollars to Nepal to implement two different programs, the Nepali Finance Ministry said Saturday.
Of the total grant assistance pledged, 10 million dollars will be used to support increased private sector participation in environmentally and socially sustainable hydropower development and the rest of 8.7 million dollars will be used for strengthening governance of natural resources and selected institutions, said a press release of the ministry.
According to the release, under the first program, USAID, an American aid agency, and the Nepali government will address the long-term energy needs of Nepal by enabling private sector development of hydropower for both the domestic and export markets.
The second grant will be used to improve the natural resource management and assist in capacity building of selected public and private institutions including some constitutional bodies and government agencies.
Two separate agreements to this effect were signed and exchanged Friday by the governments of the two countries, the release said.
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