US to provide 659 million USD to Nepal (audio report)

May 5, Kathmandu: The United States of America is to provide $ 659 million to Nepal for supporting its goal of graduating to a middle-income country.

Accordingly, the Government of Nepal (GON), through the Ministry of Finance (MOF), and the United States, through the U.S. Agency for International Development (USAID), signed the new Development Objective Agreement on Thursday.

This Assistance Agreement, which will span five years, outlines the broad development areas of U.S. and Nepal cooperation and collaboration.

The grant, amounting to 659 million dollars (equivalent to Nrs.79.71 billion ) over the five-year period, will support Nepal’s goal of graduating to a middle-income country.

Partnering with the GON, civil society, and the private sector, the US assistance will advance Nepal’s sustainable development through strengthened democratic governance, enterprise-driven economic growth and increased resilience for communities most at risk of natural disasters and climate change.

The Joint Secretary at the Ministry Of Finance, Ishwori Prasad Aryal, and the Director of USAID Nepal Mission Sepideh Keyvanshad, signed and exchanged the agreement on behalf of their respective governments.

Delivering a short remark following the signing ceremony, Joint Secretary Aryal said Nepal had greatly benefited from the financial and technical assistance extended by the United States to help drive Nepal’s socio-economic development.

Similarly, USAID Director Keyvanshad said USAID looked forward to continuing the U.S. 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 bilateral relations.

The Government of Nepal has expressed its sincere appreciation to the Government of the United States of America for its invariable support in socio-economic development and advancement of human resources in Nepal.