Kathmandu. The Millennium Challenge Corporation (MCC) has shown signs of drastic cuts in its budget. MCC has shown signs of a reduction in the budget it will spend in 2026.
According to the details released by MCC, it is preparing to spend $ 224 million in 2026. In 2025, MCC had allocated $930 million.
MCC, considered to be the main competitor with China’s Belt and Land, has been spending a large amount of money in different countries of the world. The Millennium Challenge Corporation (MCC) has been providing grants for economic growth and poverty alleviation in various developing countries.
As of 2024, it has invested in 47 countries, in which about 380 million people are claimed to have benefited. Its investments are focused on physical infrastructure, policy reform, and institutional strengthening.
Nepal had signed the MCC Compact Agreement in 2074 BS. However, the mcc compact agreement was approved by the parliament with a 12-point explanatory declaration on February 15, 2078, as the agreement was very controversial in Nepal. After that, the special implementation of MCC started one and a half years ago.
MCC was investing in electricity and road infrastructure in Nepal under us grants. The target was to build 300 kilometers of electricity transmission lines and substations and upgrade and repair 77 kilometers of roads at a cost of $ 500 million from the United States and $ 197 million from Nepal.
The event was initially postponed for three months after Donald Trump became president of the United States. Even now, MCC’s work has not progressed effectively. However, the government has planned to receive around Rs 6 billion grant from MCC in 2082/83 alone and spend that budget.
According to the commitment made by MCC officials at the Ministry of Finance, a grant of Rs 5.68 billion is coming in this fiscal year. The government has kept the grant in the budget, which is expected to be paid directly.
प्रतिक्रिया दिनुहोस्