US provides Rs 79.71 billion grant to Nepal for its graduation to middle-income country

The United States of America is to provide $ 659 million (equivalent to Rs 79.71 billion) to Nepal for supporting its goal of graduating to a middle-income country. Mr. Ishwori Prasad Aryal, Joint Secretary and Head of International Economic Cooperation Coordination Division (IECCD), Ministry of Finance and Ms. Sepideh Keyvanshad, USAID/Nepal Mission Director, signed and exchanged the agreement on behalf their respective governments at a programme organized at the Ministry today.

Termed as new Development Objective Agreement, this assistance agreement will span five years. It outlines the broad development areas of U.S. and Nepal cooperation and collaboration.
Partnering with the Government of Nepal, civil society, and the private sector, U.S. assistance will advance Nepal’s sustainable development through strengthened democratic governance, enterprise-driven economic growth and increased resilience for communities most at-risk to natural disasters and climate change.

The amount of assistance will be recorded in the GoN Red Book and transparently implemented through both on and off treasury modalities. USAID will develop projects under this assistance agreement in collaboration with line ministries and implemented in accordance with GoN rules and regulations. Delivering a short remark following the signing ceremony, Aryal expressed, “In 1951, after signing the Point Four