Kathmandu, May 5
The United States will pay a grant of Rs. 79.71 billion to help Nepal achieve its objective of
becoming a middle-income country.
At an event held today at the Ministry of Finance, Sepideh Keyvanshad, Director of the United States Agency for International Development (USAID), and Ishwari Prasad Aryal, Head of the International Financial Assistance Coordination Division, signed the grant agreement.
Director Keyvanshad made brief remarks on the occasion, saying that the five-year assistance agreement describes the larger development area of cooperation and partnership between the US and Nepal, and expressed optimism that it will help Nepal’s socio-economic growth.
According to Aryal, a joint secretary at the Ministry of Finance, US support will improve Nepal’s long-term development by strengthening strong democratic governance, entrepreneurial economic growth, and the security of populations exposed to natural disasters and climate change.
This aid will be used for excellent education and health care, as well as sustainable energy and agricultural development, according to the Ministry of Finance. The support will be recorded in the government’s budget system (Red Book) and implemented openly.
The United States is the first donor to help Nepal with bilateral aid. The five-year development cooperation agreement announced today between Nepal and the United States has strengthened the two nations’ 75-year partnership of trust, mutual respect, and commitment.
