Millennium Challenge Corporation Approves $50 Million for Nepal’s Infrastructure and Economic Growth
The Millennium Challenge Corporation (MCC) Board of Directors has approved an additional $50 million in funding for Nepal’s Compact, reinforcing the partnership between the United States and Nepal in driving the country’s development goals. The funding is aimed at advancing high-quality infrastructure projects that will strengthen Nepal’s electricity grid and promote long-term economic growth. In a press statement released on January 2, MCC Vice President of Compact Operations Cameron Alford expressed that the additional funding demonstrates the shared commitment to ensuring the success of the Nepal Compact. “The additional funding reaffirms our mutual dedication to ensuring the compact’s success in strengthening Nepal’s electricity grid and supporting long-term economic growth,” Alford said. The MCC, an independent U.S. government agency established in 2004, works to reduce global poverty through sustainable economic growth. The agency offers time-limited grants to countries that meet rigorous standards in good governance, anti-corruption efforts, and respect for democratic rights, combining infrastructure investments with essential policy and institutional reforms.
