US adds $50 million for MCC

Kathmandu. The board of the Millennium Challenge Corporation (MCC) has added $50 million. The meeting of the MCC’s Board of Directors approved the proposal to add $50 million.

The US, which had previously provided $50 million, has provided an additional $50 million. Nepal will invest $197 million in this to build a high-quality transmission line.

The US has provided a grant of $550 million for Nepal’s transmission line and road upgrading. Its term is five years. The term has started from 080 Bhadra 13.

The meeting of the MCC’s Board of Directors held on Thursday stated that it has approved the proposal to add an additional $50 million for the Nepal Compact.