KATHMANDU: Nepal passed 16 of 20 indicators as the United States Government's Millennium Challenge Corporation (MCC) released its 2017 scorecard this week.

To be considered for MCC funding, countries must first pass MCC’s scorecard – a collection of 20 independent, third-party indicators that measure a country’s policy performance in the areas of economic freedom, investing in its people, and ruling justly.

The Millennium Challenge Corporation is an independent US Government agency working to reduce global poverty through economic growth. Created in 2004, the MCC provides time-limited grants and assistance to select developing countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights.

The score is "a key component in the agency’s annual competitive selection process that determines which countries will receive MCC development funds," according to a statement issued by the US Embassy in Kathmandu today.

"However, this year it did not perform as well as comparable countries in the Government Effectiveness indicator, while it improved in the Regulatory Quality indicator," the statement explained Nepal performance, "MCC’s Board of Directors will still need to re-select Nepal for potential funding based on its scorecard performance and relevant supplemental information."

"MCC partners only with select countries committed to basic principles like fighting corruption and respecting democratic rights – including the rights of women.  MCC’s competitive selection process is a data-driven, transparent method for determining where the agency invests its development dollars," the statement informed.