US approved USD 500- million aid to Nepal 

Vastavam web: The US has approved USD 500- million aid to Nepal to boost the country’s transport and power sectors, including a second cross-border electricity transmission line with India.The USD 500 million will be provided by the US government’s Millennium Challenge Corporation (MCC), a foreign aid agency set up by the US Congress in 2004. It is independent from the State Department and the USAID.

The electricity transmission project is designed to expand Nepal’s power sector, which includes a second cross- border transmission line to facilitate electricity trade with India.The other project is designed to improve the road maintenance regime in Nepal.”I am pleased to announce the Millennium Challenge Corporation Board of Directors’ approval of the Nepal Compact,” said its acting CEO Jonathan Nash