Dominguez welcomes MCC move, but says Gov't to first study grant offer

Claudine Rigal
Août 19, 2017

"The MCC Board of Directors has not made a decision on the Philippines' eligibility for a second compact", she told ABS-CBN News.

According to a press release issued by the MCC on Thursday, Nepal is the first country to receive aid under the MCC compact programme in South Asia.

The Nepal government has committed to contribute an additional Dollars 130 million, the USA embassy said in a statement.

Nepal has committed to contributing an additional $130 million to support MCC's investment.

The USD 500 million will be provided by the US governments Millennium Challenge Corporation (MCC), a foreign aid agency set up by the US Congress in 2004.

This is the biggest grant assistance being offered by the U.S. government to Nepal and the single biggest grant amount that the country is receiving from development partners operating in Nepal.

"I am pleased to announce the Millennium Challenge Corporation Board of Directors approval of the Nepal Compact", said its acting CEO Jonathan Nash.

The first compact program, it said, also built over 4,000 small-scale community infrastructure projects that benefited almost one million households, exceeding the original compact targets. "The contribution of an additional $130 million for the Nepal Government, which is the single largest up-front country contribution in MCC's history, enables out investment to have an even greater impact." as stated in the statement.

The MCC said eligible countries were determined based on the following: the country's demonstrated commitment to just and democratic governance, economic freedom and investments in its people; the opportunity to reduce poverty and generate economic growth in the country, as well as availability of funds.

The compact includes two projects. The Electricity Transmission Project is created to transform Nepal's power sector by expanding and strengthening the high voltage electricity transmission network to support new investments in generation. The project includes the construction of approximately 300 km of high voltage power lines, equivalent to one-third the length of Nepal; the addition of a second cross-border transmission line to facilitate electricity trade with India; and activities to improve sector governance to promote private investment.

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