Kathmandu. The Government of Nepal and the Government of South Korea have signed a grant agreement worth Rs 1.25 billion for the infrastructure development of Gandaki Institute of Technology under the Gandaki Academy of Technical Education and Vocational Training.

Finance Secretary Ghanshyam Upadhyay and Korean Ambassador to Nepal Park Tayong signed the agreement on behalf of their respective sides.

Korea International Cooperation Agency (KOICA) will coordinate the implementation of the project on behalf of Korea, while the Ministry of Social Development, Youth and Sports of Gandaki Province and Gandaki Academy of Technical Education and Vocational Training will coordinate on behalf of Nepal. Finance Secretary Upadhyay informed that the project would be completed by December 31, 2030.

Finance Secretary Upadhyay said that the main objective of the project is to produce skilled human resources to meet the national and international needs of the 21st century. He said that the project aims to develop Gandaki State as a technical center, strengthen the vocational training program, enhance the skills of teachers and students and increase partnership with industry and business.

“This agreement will add a new dimension to the advancement of vocational and technical education in Nepal. It will also support nepal’s socio-economic growth by producing skilled human resources as per the demand of the labour market,” said Finance Secretary Upadhyay.

Signing the agreement, Ambassador Tayong said, “This project is not only an investment in buildings and infrastructure, but also in the construction of skilled manpower, skill development and nepal’s future workforce.” Through this, Nepal will increase its capacity to provide high-quality industry-friendly technical education. ’