With nearly half of the country living on less than three dollars a day, Nepal is one of the poorest countries in Asia. It continues to face economic development challenges caused in part by high transportation costs and an inadequate supply of electricity. The devastating earthquakes of 2015 further compounded Nepal’s development challenges.
MCC’s Nepal Compact is designed to reduce poverty and lay a strong foundation for new investment in the country by improving the availability of electricity to homes and businesses and lowering the cost of transportation. These efforts will help the Government of Nepal better deliver critical services to its people and strengthen the country’s economic growth and stability. The Government of Nepal has committed to contributing an additional $130 million to support MCC’s investment, representing the single largest up-front country contribution in MCC’s history.