INSUBCONTINENT EXCLUSIVE:
KATHMANDU, MAY 5The United States of America is to provide $ 659 million (equivalent to Rs 79.71 billion) to Nepal for
supporting its goal of graduating to a middle-income country.
United States, Mexico book spots at World Cup finals
Nepal-India secretary-level joint taskforce meeting concludes
Ishwori Prasad Aryal, Joint Secretary and Head of International Economic
Cooperation Coordination Division (IECCD), Ministry of Finance and Ms
Sepideh Keyvanshad, USAID/Nepal Mission Director, signed and exchanged the agreement on behalf their respective governments at a programme
organized at the Ministry today.
Termed as new Development Objective Agreement, this assistance agreement will span five
It outlines the broad development areas of U.S
and Nepal cooperation and collaboration.Partnering with the Government of Nepal, civil society, and the private sector, U.S
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.The amount of assistance will be recorded in the
GoN Red Book and transparently implemented through both on and off treasury modalities
USAID will develop projects under this assistance agreement in collaboration with line ministries and implemented in accordance with GoN
rules and regulations.Delivering a short remark following the signing ceremony, Aryal expressed, "In 1951, after signing the Point Four
program, the United States became the first bilateral donor to Nepal
This began a 70 plus year relationship of trust, mutual respect, and commitment to the people of Nepal."He further added that Nepal has
greatly benefited from the financial and technical assistance extended by the United States to help drive Nepal's socioeconomic development
He expressed that the Assistance Agreement as a departure agreement for both governments due to the fact that, for the first time in this
enduring partnership, US assistance will be fully reflected in GoN's Red Book.Similarly, Keyvanshad noted, "Today we add a new chapter to
our long-standing partnership with the Government of Nepal and the Nepali people
We look forward to continuing the US government's long-term commitment to support activities that strengthen Nepal's democracy, governance,
and economic growth across the country."This year, the United States government and the Government of Nepal are celebrating 75 years of
The Government of Nepal expresses its sincere appreciation to the Government of the United States of America for its invariable support in
socioeconomic development and advancements of human resources of Nepal
Both governments acknowledge the partnership has seen many successes and look forward to continuing in the spirit of strong collaboration,
the Ministry of Finance and the USAID said in a joint press release.
This article first appeared/also appeared in https://thehimalayantimes.com