Monday, January 13, 2014

MCC to invest in infrastructure after threshold programmes

Millennium Challenge Corporation (MCC) will invest in infrastructure through government system, informed the visiting MCC team here today.
"A larger compact programme that will follow the success of the threshold programmes will be an investment in infrastructure," said managing director of the MCC Policy Department Thomas Kelly clarifying that the threshold programmes are purely technical assistance intended to improve policy and institutional environment in the concerned sector and will not be feed into government budget system.
During the meeting with economic advisor Dr Chiranjibi Nepal and finance secretary Shanta Raj Subedi at the Finance Ministry, the MCC team led by  Kelly was briefed of the four constraints for the sustainable and high growth and economic development.
Finance secretary thanking the visitors for re-selecting Nepal for 2014 MCC threshold programme also informed that the government has already approved it and planning to incorporate it in the next fiscal year's budget.
Subedi also highlighted the current macroeconomic situation and emphasised that such assistance should help resolve constraints for the sustainable and high growth and economic development for the inclusive and balanced development.

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