Nepal and EU Sign Grant Agreement of Over Rs 10.5 Billion
A grant agreement of more than Rs 10.5 billion has been signed between Nepal and the European Union (EU) for two different programs.
At a program organized at the Finance Ministry, Singha Durbar, today, two separate Financing Agreements were signed. The first agreement is a grant of 50 million pounds sterling (equivalent to Rs. 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan - SESP. The second agreement is a grant of 22 million pounds sterling (equivalent to Rs. 3.25 billion) for the 'Local Adaptation to Climate Change' initiative.
'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach (SWAp) supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal, capable of playing an active role in the country's social and economic development.
During the event, Finance Secretary Arjun Prasad Pokharel expressed hope that the support of SESP would increase equitable access and improve the quality of education, which are crucial for human capital development.
He also appreciated the EU's support to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities to enable selected local levels and communities to manage their natural resources for climate change adaptation.
EU Commissioner for International Partnerships, Jutta Urpilainen, mentioned, "The European Union is proud to continue our 20-year support to Nepal in education. Supporting quality education is one of our core commitments in our cooperation."
EU Ambassador to Nepal, Nona Deprez, stated, "We are heartened by the government's commitment to support quality education and are happy to be a close partner."
The European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali to empower them to make the most of their natural resources sustainably, said Nona Deprez, EU Ambassador to Nepal.
'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, as per a press release issued by the Finance Ministry.
Source: Rastriya Samachar Samiti (RSS)
