Nepal eligible for 2014 MCC assistance

KATHMANDU:

Officials of the US Embassy in Nepal handed over the Millennium Challenge Corporation (MCC) scorecard to finance secretary Shanta Raj Subedi today.

Out of the 20 indicators classified under three major categories — ‘economic freedom’, ‘investing in people’ and ‘ruling justly’ — Nepal surpassed the low-income category median in 14 indicators, scoring 70 per cent overall, says a statement issued by the Ministry of Finance.

“Although this score has made Nepal eligible for 2014 threshold programmes, six indicators are still marginally and technically down the median, which can definitely be improved in the year 2015. This would pave the way for Nepal’s enrollment in the ‘compact programme’, a multi-year programme targeted at reducing poverty and stimulating economic growth in MCC eligible countries,” the statement quotes Michael B Goldman from economic and political department of the US Embassy as saying.

Finance secretary Subedi requested the US delegation to introduce the ‘threshold programme’ by the end of March 2014 so that it could be included in the fiscal policy.

Source: THT