Nepal Compact Signing Ceremony

Thursday, September 14, 2017 from 12:30 pm to 1:00 pm

Deputy Secretary of State John Sullivan and Millennium Challenge Corporation (MCC) Acting CEO Jonathan Nash welcomed Nepali Minister of Finance Gyanendra Bahadur Karki in the Treaty Room of the U.S. Department of State for the signing of a new $500 million MCC Compact with Nepal on Thursday, September 14, 2017, at 12:30 p.m.

The ceremony formalized MCC’s Nepal Compact, which will spur private investment and economic growth to reduce poverty, and support regional connectivity in South Asia. The compact is in recognition of the progress Nepal has made in establishing rule of law, advancing economic freedom, and investing in its people. The Nepali Government will contribute an additional $130 million to support the compact investment – the single largest up-front country contribution in MCC’s history.

Event participants included:

  • His Excellency Gyanendra Bahadur Karki, Minister of Finance, Federal Republic of Nepal
  • The Honorable John J. Sullivan, Deputy Secretary of State
  • Mr. Jonathan Nash, Acting Chief Executive Officer, Millennium Challenge Corporation

Location

U.S. Department of State, Treaty Room
2201 C Street, NW
Washington, D.C. 20520

Related Country Programs

  • Nepal Compact

    The MCC Nepal Compact will increase the availability of electricity and lower transportation costs—helping to spur investments, accelerate economic growth, and reduce poverty.