Kathmandu: Nepali political actors–from Prime Minister Pushpa Kamal Dahal to Finance Minister Prakash Sharan Mahat–pledged full support to the implementation of the projects under MCC Nepal Compact on Thursday. Speaking at an event held on Wednesday to mark the launch of implementation for the MCC Nepal Compact hosted by MCA-Nepal, they said that they will work to ensure that the projects are completed within the stipulated time frame.
The five-year program was launched on August 30 with an exchange of letter of Entry into Force (EIF) between Nepal’s Finance Minister Prakash Sharan Mahat and MCC Vice President of Compact Operations Cameron Alford. EIF is an important milestone for MCC compacts as it marks the fulfillment of necessary conditions and sufficient preparations to ensure successful completion of compact projects within a five-year timeline.
The event was attended by Nepal PM, MCC CEO Alice P Albright, the US ambassador to Nepal Dean Thompson, officials and civil society members among others.
MCC projects are jointly funded by the government of Nepal and MCC. While the MCC provides $500, Nepal government contributes $197 million for the projects.
Extending his congratulations and best wishes, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ asserted that Millennium Challenge Corporation (MCC) funded projects have paved the way for new opportunities in areas of economic cooperation between Nepal and the US. He expressed his hopes of enhancing trade connectivity for Nepal throughout Asia and said that the effective implementation of the Compact’s projects would contribute significantly to Nepal’s economic development and poverty reduction. On the occasion, the PM said the government will extend all support for project implementation. “The government of Nepal will do its best to ensure timely implementation of the MCC project,” he said.
Finance Minister Mahat expressed his belief that the MCC Nepal Compact’s projects will support Nepal’s growth and benefit the people of Nepal through better roads and more reliable electricity. He also said that the government will remove all hurdles to project implementation. “We will extend full support from our side for its implementation,” said Mahat. “Government is committed to removing obstacles in its implementation. MCC is for Nepal and Nepali people.”
“We worked with the Government of Nepal to set ambitious goals with this program in order to achieve great things with the people of Nepal,” said MCC CEO Albright . “We stand ready to be a steadfast partner and have full confidence in the leadership of the Government of Nepal and their implementing agency, MCA-Nepal. We are ready to face the inevitable challenges together and deliver a successful program.”
Likewise, US Ambassador Dean R Thompson said MCC-Nepal Compact is for supporting economic growth for the Nepali people. “It marks yet another significant milestone in the 76-year long friendship between Nepal and the United States,” he said. “MCC projects mean more reliable electricity, more reliable road transport and more jobs.”
During her three-day visit to Nepal, MCC CEO Albright met with key government officials and stakeholders in the implementation of the Compact, attended a tree-planting ceremony to emphasize the importance MCC places on environmental protection and climate preservation and observed ongoing work with the Department of Roads in training engineers to use climate-smart, sustainable technology to create a safer transportation network that is easier to maintain and better for the environment.
Highlighting the Compact’s aim to foster inclusive economic growth for the people of Nepal, Albright also met with women executives who shared with her their experiences, work and hopes for a more prosperous Nepal.