Washington, 31 October 2023 (TDI): Secretary of State Antony J. Blinken and Nepali Foreign Minister Narayan Prakash Saud met in Washington today, underscoring the robust US-Nepal bilateral talks.
The focal point of their discussions was the recently launched $500 million Millennium Challenge Corporation Compact (MCC), which will fund critical infrastructure projects, enhance electricity accessibility, and bolster cross-border power trade in Nepal.
The Secretary and Foreign Minister always admired the 60 years of partnership on Peace Corps Volunteers Service in Nepal. In addition, Blinken showed condolences over the killing of 10 Nepali students during the Israel-Hamas war.
Additionally, they emphasized on recently launched $500 million Millennium Corporation compact that will develop infrastructure, electricity, and support cross-border power trade.
“I met with Nepali Foreign Minister Narayan Prakash Saud to emphasize US investments in Nepal, including a $500 million compact from Millennium challenge to promote economic growth. The US extends its condolences to the families of Nepali students who tragically lost their lives in the Hamas terrorist attack in Israel.”
Moreover, they deliberated on the expansion of Development Finance Corporation investments in Nepal. This includes a new $125 million loan to a Nepalese bank, intended to facilitate loans to small- and medium-sized enterprises, fostering economic growth and development.
Simultaneously, Secretary Blinken also conveyed the United States’ deepest condolences for the tragic loss of Nepali students in the Hamas attack on Israel on October 7. Additionally, he expressed concern for Bipin Joshi, who is currently missing.
The meeting reaffirmed the strong and multifaceted US-Nepal relationship, emphasizing collaborative efforts to advance economic development, infrastructure, and mutual support in the face of challenges.
Minister Saud expressed gratitude to the US government for its ongoing support in advancing Nepal’s socioeconomic development, which includes recent assistance from USAID and the Millennium Challenge Compact. Both parties emphasized the need for the prompt execution of MCC projects.