South Korea extends USD 10 million support for Nepal’s integrated rural development

Korean Ambassador to Nepal Young-sik Park and Finance Secretary Shankar Prasad Adhikari at an MoU signing ceremony, in Kathmandu, on Tuesday, February 6, 2018.

Kathmandu, February 6

The South Korean government is extending a support worth USD 10 million for the ‘Integrated Rural Development of Nepal through Strengthening Research and Development Capacity of Kathmandu University’ project.

Ministry of Finance and the Embassy of Republic of Korea in Nepal signed the memorandum of understanding for the project on Tuesday.

The Ministry’s Secretary Shankar Prasad Adhikari and Korean Ambassador to Nepal Young-sik Park signed the agreement at the Ministry of Finance.

Through the eight-year project, the Korea International Cooperation Agency aims to strengthen research and development capacity of the Kathmandu University to improve the living condition and quality of life of rural communities by strengthening their abilities through the application of various technologies and innovations, KOICA says in a statement today.

On the occasion, the Ambassador described the project as the biggest technical cooperation of the Korean government to Nepal and hence showed his high hope for the positive impact of the project.

Various representatives from Nepal government, Kathmandu University were present at the signing ceremony.

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