MCC aid flow has stopped as government is still on the fence regarding the programme’s House ratification

Nepal received only five percent of the fund pledged by the United States under its Millennium Challenge Corporation Nepal Compact last fiscal year, as Parliament could not ratify the programme amid opposition from some sections within the ruling Nepal Communist Party

Aug 14, 2020
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Nepal received only five percent of the fund pledged by the United States under its Millennium Challenge Corporation Nepal Compact last fiscal year, as Parliament could not ratify the programme amid opposition from some sections within the ruling Nepal Communist Party.

The MCC was supposed to disburse Rs6 billion in the last fiscal year, but only Rs300 million was disbursed as the US agency stopped releasing resources from its part since October last year, according to the Millenium Challenge Account Nepal, a Nepal government agency that manages the MCC Nepal Compact.

The $500 million MCC Compact is a large five-year grant programme under which the fund is provided to the countries that pass the MCC’s eligibility criteria including democracy and transparency.

Nepal signed up to the MCC Compact in September 2017.

https://kathmandupost.com/national/2020/08/14/mcc-aid-flow-has-stopped-as-government-is-still-on-the-fence-regarding-the-programme-s-house-ratification

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