MCC Approves Additional $50 Million for Nepal Compact

The Millennium Challenge Corporation (MCC) Board of Directors has approved an additional $50 million in funding for the Nepal Compact, reinforcing its commitment to advancing Nepal’s development priorities through transformative infrastructure projects.

In a statement issued on January 2, MCC Vice President of Compact Operations Cameron Alford highlighted the significance of the additional funding. “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 stated.

The Nepal Compact focuses on improving the country’s electricity transmission infrastructure and road maintenance systems, aiming to unlock economic opportunities and enhance energy connectivity.

Established in 2004, the MCC is an independent U.S. government agency dedicated to reducing global poverty through economic growth. It offers time-limited grants that combine infrastructure investments with policy and institutional reforms. The agency supports nations that demonstrate strong commitments to good governance, combating corruption, and upholding democratic values.

This latest funding highlights the ongoing collaboration between Nepal and the MCC to achieve sustainable development and economic progress.