MCC Vice President Cameron in Nepal, implementation to be announced tomorrow

MCC Vice President Cameron in Nepal, implementation to be announced tomorrow

American Millennium Challenge Corporation (MCC) Vice President Cameron S. Elford has arrived in Nepal.

Elford, who is the head of MCC’s compact operation department, arrived in Kathmandu the day before he was to go to Nepal for MCC implementation.

Cameron will participate in the formal program of MCC implementation to be held at the Ministry of Finance. On Wednesday, the Ministry of Finance is preparing to announce the implementation of MCC through a ‘Letter of Exchange’ between Nepal and American officials.

After this, the five-year period of MCC implementation will begin, and if the MCC project is not completed on time as agreed, it is agreed that the entire cost of the MCC project will have to be borne by the Government of Nepal.

The meeting of the board of directors of Millennium Challenge Account (MCA) Nepal, which implements the MCC project, decided the date of ‘entry into force’. After the representative of MCC, who is an observer on the board of MCA, is also positive, the implementation of MCC is about to be announced through a letter of exchange,” said a high diplomatic source.

The process of contracting projects and publishing notices of land acquisition has started.

According to the MoU of MCC Compact signed between Nepal and America five years ago, America will give Nepal 500 million US dollars i.e. about 60 billion rupees as a subsidy, while Nepal also has to invest 130 million dollars i.e. about 17 billion dollars for the MCC project.

The controversy arose when it was mentioned that the agreement should be passed by the Nepalese parliament. The MCC, which has been mired in controversy for a long time, will be implemented from Wednesday after 18 months of approval by the Parliament of Nepal.

Soon after his return, Senator Chris Van Hollen, a member of the US Senate’s Foreign Affairs and Appropriations Committee, is scheduled to visit Nepal in the first week of September.

Earlier, in the second week of last July, US Assistant Secretary of State Donald Lu also came to Nepal.

Ellerfod will visit the MCC and other projects run with US support in Nepal and areas of local cultural importance.

In addition, Prime Minister Pushpa Kamal Dahal, including Prachanda, is scheduled to meet leaders of major political parties.

He is scheduled to return to America via Qatar on August 15.