South Korea grants $2m for Lumbini development

The Government of Republic of Korea has agreed to provide $2 million in grant assistance to Nepal for the master plan of the Lumbini World Peace City Preservation and Development.
Finance Secretary Krishna Hari Banskota and Korean Ambassador to Nepal IL-Doo Kim signed a Memorandum of Understanding today on behalf of their respective governments.
The main objectives of the project are to contribute to respecting the outstanding universal value of Lumbini, the birthplace of Lord Buddha, to conserve the cultural and historic environment and cultural heritages in a more proper way, to present metaphysical foundation templates for the use in design of the Lumbini World Peace City, to create Lumbini as world peace city, a city of Buddhist teaching and learning, by sharing Korea's experience and knowledge.
The project would be implemented within a period of one and half years from the date of its commencement. Ministry of Federal Affairs, Constituent Assembly, Parliamentary Affairs and Culture, and the Korea International Cooperation Agency (KOICA) would be the implementing agencies for the project on behalf of Nepal and Korea, respectively.