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Press Release

MCC CEO Celebrates MCC-Nepal Compact Launch

For Immediate Release

October 12, 2023

WASHINGTON (October 12, 2023) – Last week Millennium Challenge Corporation (MCC) Chief Executive Officer Alice Albright concluded a trip to Nepal to celebrate the successful launch of the MCC-Nepal Compact.

During the trip, Albright met with current and former government leaders, including Prime Minister Dahal; and ministers of key agencies including Finance; Energy, Water Resources and Irrigation; Foreign Affairs; and Physical Infrastructure and Transport. Discussion centered around celebrating the U.S.-Nepal partnership and reaffirming key next steps in implementation of the compact.

At Tribhuvan University, Albright spent time with engineering students who, as part of the MCC compact, are receiving training on sustainable road maintenance technology. To celebrate the compact launch and MCC’s commitment to environmental stewardship, she planted a tree in Manjushree Park alongside the Director General of the Department of Forest and Soil Conservation. She met with Nepali women executives, who shared their perspectives on the role of the compact in building Nepal’s economy in the energy and road sectors, and she engaged with the Nepali media to answer questions and express excitement about the program’s impact for the people of Nepal. The trip was an opportunity to celebrate the longstanding U.S. - Nepal bilateral relationship, mark the significant milestone of compact launch, and meet some of the Nepali people whose lives will be touched by the projects.

“The $697 million Nepal Compact is expected to enhance the lives of at least 22 million people all across Nepal,” Albright remarked during the compact launch event. “The Government of Nepal’s contribution of $197 million towards the MCC grant is a remarkable demonstration of your government’s commitment to the compact’s success. The MCC-Nepal Compact is designed to address economic priorities identified by the Government of Nepal and focuses on the most pressing needs identified by Nepal – reliable, affordable energy for homes, schools and businesses, and improved road maintenance for safer travel and transportation.”

The Millennium Challenge Corporation is an independent U.S. government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.