Feasibility studies of MCC projects begin
KATHMANDU: The United States government's Millennium Challenge Corporation (MCC) on Monday launched feasibility studies of various power sector projects proposed by Nepal.
The feasibility studies of various power sector projects proposed by the Office of the Millennium Challenge Nepal (OMCN), a Government of Nepal office which coordinates development of the MCC programme, began today, the Kathmandu-based US Embassy said in a statement today.
"Feasibility studies are the foundation of the MCC compact development process, and inform the size, scope and suitability of the overall program that MCC will consider funding."
“The MCC and the Government of Nepal worked together to prioritise critical infrastructure needs in the power and road transport sectors in Nepal, which were identified as key constraints to economic growth in a joint analysis,” said Himesh Dhungel, MCC Country Director for Nepal, in the statement.
“With the full support of the Government of Nepal and other interested parties, the programme development should be completed in time for presentation to the MCC Board of Directors for approval in 2017.”
Earlier, the MCC and the Government of Nepal had signed a USD 10 million compact development funding grant agreement in July 2016 in order to facilitate programmr design and preparation, including project feasibility studies.
Established in 2004, the MCC is an independent US government agency "working to reduce global poverty through economic growth."