Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the tight monetary policy adopted by developed countries had slowed down the pace of economic reform in less developed countries like Nepal.
In the meeting between Hollen and Ambassador Khatri, multifaceted aspects of Nepal-US relations, democratic stability and US aid to Nepal's economic development endeavours were discussed.
KATHMANDU: The government has published the US aid agency, Millennium Challenge Corporation (MCC) Nepal Compact in the Nepal Gazette. The Ministry of Law, Justice and Parliamentary Affairs published the Compact, which has been ratified by the House of Representatives with an “interpretative explanation”, on Thursday. Both the Government of Nepal and the MCA Nepal Compact […]
Discussions between the political parties have intensified regarding the approval of the grant assistance agreement between the Government of Nepal and the US aid agency Millennium Challenge Corporation (MCC) by the House of Representatives.
he Millennium Challenge Corporation (MCC) Compact was signed in September 2017 between the US aid agency and the government of Nepal promising $500 million worth of funding, with Nepal matching another $130 million. Its stated objective is to ‘increase the availability of electricity and lower transportation costs —helping to spur investments, accelerate economic growth, and reduce poverty’. […]
Fatima Sumar, vice-president of the US aid project Millennium Challenge Corporation (MCC), warned that foreign aids would be cut off if Nepal refused MCC grant.
ITAHARI, September 10: Federation of Indigenous Nationalities Litterateur/Writer of Nepal (FINLON), an umbrella organization of indigenous writers and litterateurs, has sounded critical over US aid project Millennium Challenge Corporation (MCC).
Issuing a press release signed by its chair Rajan Mukarung on Wednesday evening, FINLON said some provisions of MCC hampered Nepal's national sovereignty. FINLON has said MCC, which selected Nepal in 2011 during transitional phase, is suspicious.
FINLON has claimed MCC also affects Nepal's non-alignment foreign policy increasing long-lasting impacts of what it calls 'American imperialism'.
''US officials have said MCC is part of Indo Pacific Strategy of US,'' said the release, ''This has entered into Nepal to make US-friendly strategic grounds in Nepal.''
FINLON has also accused that MCC favors multinational companies and stays above Nepal's prevalent laws. FINLON has said that MCC prioritizes on the acquisition of lands to grab natural resources of those countries in many parts of the world, which, if it implemented in Nepal, have adverse effects on its indigenous nationalities going against international conventions where Nepal is also a signatory.
FINLON said rights of indigenous nationalities on water, land and forest must not be compromised at any cost in the name of MCC.
