Kathmandu: The Millennium Challenge Compact signed between the Ministry of Finance and Millennium Challenge Corporation (MCC) six years ago is to advance by setting the entry into force (EIF) for the full-scale implementation.
A meeting of the Board of Directors of Millennium Challenge Account Nepal Development Committee (MCA-Nepal) held on August 16 has set the time of August 30 for the EIF, the MCA Nepal informed.
The construction of power transmission line and road development projects should be completed within five years of the beginning of the EIF.
The Finance Ministry and MCC had signed the agreement on September 14, 2017 and the agreement was ratified from the parliament with interpretative declaration one and a half years ago.
