The Board of Directors of the Millennium Challenge Corporation (MCC) has approved an additional $50 million for the Nepal Compact.
This new funding highlights the ongoing partnership between MCC and Nepal, aiming to advance the country’s development goals through transformative and high-quality infrastructure initiatives.
Cameron Alford, Vice President of Compact Operations at MCC, emphasized in a press release on January 2: “This additional funding reaffirms our shared commitment to ensuring the compact’s success in strengthening Nepal’s electricity grid and fostering long-term economic growth.”
Established in 2004, MCC is a U.S. government agency focused on reducing global poverty through economic growth. It offers time-bound grants that combine investments in infrastructure with policy and institutional reforms for countries that meet strict criteria related to good governance, combating corruption, and upholding democratic rights.
