US Government's Millennium Challenge Corporation to Invest in South Asian Energy Connectivity
25 July 2017
The Government of the United States' Millennium Challenge Corporation (MCC) is finalizing a $500 million investment to help facilitate Nepal's electricity trade with India, which will increase energy connectivity in South Asia.
The grant by MCC, with additional $130 million funding from the Government of Nepal, will finance construction of the second high voltage cross-border transmission line on the Nepal side, 300 kilometers of high voltage power lines, and three large substations. A portion of the grant will also go toward improving governance in the energy sector, and Nepal’s road maintenance.
According to Ms. Fatema Z. Sumar, MCC Regional Deputy Vice President for Europe, Asia and the Pacific, and Latin America, the agreement will likely be signed by 2017 autumn.
Related Link:
