Korea to provide 8 million US dollar grant to Nepal

KATHMANDU: The Republic of Korea has agreed to provide 8 million US dollar (approximately Rs 797.1 million) grant to the government of Nepal for the implementation of the Inclusive Rural Development in Nawalparasi project.

At a programme organised at the Ministry of Finance today, Ministry Secretary Suman Prasad Sharma and Korean Ambassador to Nepal Choe Yong-jin signed the MoU.

The objective of the project is to increase rural income through sustainable agriculture development, strengthening agricultural capacity at the community level, improving the quality of and access to Healthcares Services and also to support capacity enhancement of communities and local government.

On behalf of the Korean government, KOICA will spend US$ 8 million over the period of five years in five VDCs: Bhujhahawa, Guthiprasauni, Kudiya, Sanai, Tamasariya and one Sunwal Municipality of Nawalparasi.

The project is to build a contemporary development model through integration of local participatory planning process of GoN and Korean development model known as ‘Saemaul Undong (SU)’. UN has also recognized Saemaul Undong as a successful and effective model of rural development.

KOICA is planning to provide technical and advisory assistance during project implementation and provide the equipments and material necessary for the successful implementation of the project. At the same time, KOICA will focus its activities in capacity development of local governments so as to strengthen local governance system of the community.

Reiterating Korean support in reconstruction task after April 25 quake, Ambassador Choe said that Korea would provide its continuous support for sustainable agriculture development and implementation of income generating programmes.

Similarly, Secretary Sharma expressed gratitude for the Korean support received for socio-economic prosperity in the country.