Britain to grant 90 million pounds for Infrastructure Development to Nepal
The Ministry of Finance and British Embassy Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) here on Thursday.
Finance Secretary Toyam Raya and British Ambassador to Nepal Nicola Pollitt signed the agreement from their respective sides at a function held in the Ministry. The LISP programme is co-designed between the Government of Nepal and British Embassy Kathmandu.
Up to 1.7 million Nepali citizens will directly receive more sustainable and inclusive infrastructure services as a result. The UK will provide up to 90 million pounds (Rs. 14.4 billion) support for this work, according to a statement issued by the Finance Ministry.
Importantly, the programme will support Government of Nepal to improve the delivery and sustainability of wider investments in local infrastructure, worth over 2 billion pounds (Rs 320 billion) over the next six years.
Speaking on the occasion, British Ambassador Pollitt said that the UK and Nepal have a long and proud history of collaboration in building, maintaining and reconstructing infrastructure. This has delivered significant results for the people of Nepal over the last six decades, for which we and the Government of Nepal are immensely proud.
“LISP is an important programme for both the Government of Nepal and the British Embassy Kathmandu, and another great example of our historic partnership”, she said.
Likewise, Finance Secretary Raya acknowledged the contribution and continuous support of the British Government for the social and economic development of Nepal since long. He also highlighted that this programme would support for the local level infrastructure and capacity building of local governments which will enhance the quality of public life in local levels.
In addition, the Government of Nepal will also provide up to 40 million pounds (Rs 6.4 billion) co-financing to encourage local governments for sustainable and resilient infrastructure service delivery, according to the Ministry.