Kathmandu. The Millennium Challenge Account (MCA) Nepal has signed two major agreements to take forward the compact’s power transmission project, jointly funded by the governments of Nepal and the United States of America.

MCA-Nepal signed an agreement for the construction of Ratmate-New Damauli transmission line with AngelIc Skipper Joint Venture and new Damauli-New Butwal transmission line with Waiba-Salasar Joint Venture.

Under the agreement, the 180 km long 400 KV transmission line will be designed, installed, tested and operated.

Executive Director of MCA-Nepal Khadga Bahadur Bista and representatives of the two companies signed the agreement in the presence of the Ministry of Finance, Nepal Electricity Authority, MCC Acting Vice President, MCC Representatives and representatives of MCC Residential National Mission and officials of the US Embassy.

“By signing these agreements, MCC reaffirms the united states’ cooperation in mutual priorities and Nepal’s development goals,” said MCC Acting Vice President John Wingle, “We are proud to work in collaboration and coordination with our Nepalese counterparts to improve the availability and reliability of electricity in Nepal, as well as to enhance regional electricity trade and interconnectivity.” ’

Secretary at the Ministry of Finance and Chairman of MCA-Nepal Board of Directors Ghanshyam Upadhyay appreciated the financial support received from the US government to implement the Government of Nepal’s plan for the construction of transmission line and substation.

Jason Mix, Deputy Chief of Mission at the US Embassy in Nepal, said, “Today’s construction agreement is not only an achievement, but a symbol of america’s enduring commitment to Nepal’s development and prosperity.” The MCC Compact is the cornerstone of cooperation between Nepal and the UNITED States. We are proud to move forward through collaboration benefiting all Nepali citizens. ’

McA-Nepal Executive Director Bista said, “We appreciate the continued support and recent approval from the US government to advance the compact. Today’s important achievement reflects the shared commitment of the Government of Nepal and all stakeholders towards this national pride project. We are focused on successful implementation through sustainable cooperation. ’

Mcc Nepal Compact is a historic investment of US$ 697 million in nepal’s long-term economic development, creating a positive environment for increasing private sector investment. The MCC Nepal Compact has been prepared to support economic growth by expanding interoperability by implementing electricity transmission projects and road repair projects, strengthening important infrastructure, enhancing cross-border energy trade and improving Nepal’s transport network.

The Millennium Challenge Corporation (MCC) Nepal Compact has been reactivated with the common commitment of both the governments after the recent foreign aid review by the US government. This achievement reaffirms the commitment of both governments to the successful implementation of the MCC Nepal Compact, one of the transformative infrastructure construction partnerships being operated in Nepal.

The Millennium Challenge Corporation (MCC) is an independent U.S. government agency working to reduce global poverty through economic growth. Established in 2004, mcc provides time-bound grants and assistance to countries that adhere to important standards including good governance, anti-corruption, respect for democratic rights.

Similarly, Millennium Challenge Account Nepal Development Committee (MCA-Nepal) is a government-owned legal body formed by the Government of Nepal in April 2017 under the Development Committee Act, 2013 for the implementation of projects under the MCC Nepal Compact.