MCC delegation meets Finance Minister

A delegation of Millennium Challenge Corporation (MCC) paid a courtesy call on Minister for Finance Barsha Man Pun on Tuesday.

Jonathan Brooks, MCC’s Deputy Vice President for Europe, Asia, Pacific, and Latin America, Department of Compact Operations, and Caroline T. Nguyen, Managing Director for Europe, Asia, Pacific, and Latin America, Department of Compact Operations arrived in Nepal on Tuesday itself to meet with MCA-Npeal officials and other leaders to support the progress on implementing the MCC Nepal Compact.

The meeting held at the Ministry of Finance, Minister Pun informed that the government is committed to completing the MCC project within the predetermined timeframe.

He highlighted the necessary cooperation and coordination from the ministry’s side to ensure timely completion of the project.

“The government remains committed to completing the MCC Compact projects on time, and that commitment persists,” he stated.

Minister Pun assured that issues such as land acquisition for project implementation and resolving forest area usage concerns would be addressed under the MCC Nepal program.

On the occasion, Vice President Brooks briefed about the progress made in the construction of electricity transmission lines and roads under the MCC project.

He expressed satisfaction with the progress of the project so far.

Nepal is executing two projects under the MCC: the upgrading of an 80-kilometer section of the East-West Highway and the construction of a 315-kilometer 400 kV transmission line along with its three substations.

The US is providing financial support of $500 million to execute the MCC agreement, while the Nepali government is contributing $19.7 million.