MCC-led delegation starts work with Nepal govt

A delegation led by the Millennium Challenge Corporation (MCC) is in Nepal this month to begin work with the Government of Nepal on identifying its constraints to private investment and economic growth.

This is the first step in developing an MCC Threshold Program, which is a grant program designed to assist countries to become eligible for MCC compact assistance by focusing on targeted policy reforms to increase private investment and economic growth, the US embassy said in a press statement.

MCC is a US Government agency that works with developing countries that have a demonstrated commitment to good governance, economic freedom and investment in their citizens. MCC’s Board of Directors selected Nepal as eligible for the Threshold Program in December 2011.

MCC’s Board of Directors meets each December to make eligibility determinations for MCC assistance; this includes reviewing the eligibility of countries developing Threshold Programs.

"This December, MCC’s Board will consider Nepal’s performance on MCC’s eligibility indicators and its ongoing commitment to good economic and democratic governance," the statement said. nepalnews.com