Kathmandu. KOLICA: The Korea International Cooperation Agency (KOICA) organized an event titled ‘K-Connect: Promoting an Entrepreneurship Ecosystem in Nepal’, aimed at bringing together entrepreneurs, financial institutions, investors, and development partners in Nepal.

The event witnessed participation from beneficiaries, government officials, investors, financial institutions, consultants and development partners of the three projects supported by Koika.

The programme aims to enhance access to knowledge, networks and finance, and provide a unique platform for innovation, shared learning, sustainable business growth and job creation.

Three projects supported by Koica represented on K-Connect have already achieved tangible results. More than 1500 Korean migrant workers have received technical, reintegration and financial literacy training under K-We.

A total of 195 people have completed special entrepreneurship training. KOICA has provided $2.5 million to provide interest subsidies to provide access to loans for migrants returning from Korea. The program is expected to benefit about 300 Korean returnees.

The Climate Resilient Agriculture Project has established 109 climate-resilient agribusinesses in flood-affected areas of the Terai. It has provided entrepreneurship grants and training to more than 5,300 beneficiaries.

It has also created 343 green jobs. Under this project, COICA has extended a grant of 15 million US dollars to the Terai Agri Business and Enterprise Challenge Fund.

In Pokhara, Green Employment Creation through Recycle and Upcycle (GCRU) project has developed 115 recycle and upcycle enterprises. About 11,000 families have been trained in waste management.

More than 1,300 people were imparted entrepreneurship training. Ambassador of the Republic of Korea to Nepal, Park Tae-yang, said that the sustainable development of Korea has been achieved primarily by investing in people, strengthening institutions, and creating opportunities for innovation, entrepreneurship, and growth of the private sector.

Mr. Muhun Kong, Country Director of KOICA, reaffirmed KOICA’s long-term commitment to support the development of entrepreneurship in Nepal. He added that over the years, KOICA has been supporting entrepreneurship, access to finance and skill development through various projects.

On the occasion, Joint Secretary at the Office of the Prime Minister and Council of Ministers, Nawaraj Dhakal and Joint-Secretary at the Ministry of Youth, Labour and Employment Hem Raj Tamang introduced the concept of K-Connect. They further emphasized the importance of job creation, skills and entrepreneurship development in Nepal. They appreciated the meaningful development support provided by the Government of the Republic of Korea in Nepal through KOICA.

Speaking at the event, Mr. Sujin Yeo, Deputy Director of KOICA, said that K-Connect is all about connecting entrepreneurs, financial institutions, investors, consultants, government partners, and development institutions in a growing entrepreneurship ecosystem.

The program included beneficiary success stories, business pitching sessions with representatives from banks and private sectors, and one-on-one mentoring sessions connecting entrepreneurs with potential investors and business advisors.

These sessions have enabled participants to receive practical feedback, strengthen their business strategies, and establish networks that can lead to future investments and collaborations.

Since 1991, the Government of Korea, through KOICA, has been supporting various sectors such as health, education, agriculture, vocational training, rural development, information technology, and tourism. KOICA has so far provided US$ 235 million in assistance to Nepal. COICA works with businesses, civil society organizations, universities, and development partners to help Nepal achieve its SDGs.