First Business News Portal in English from Nepal
KATHMANDU: The third meeting of the House of Representatives (HoR) held today has ratified the much-hyped Millennium Challenge Corporation (MCC) Compact from the parliament.
The $50 million US-grant project was passed by one-third of the parliamentarians at the HoR meeting.
Leaders, including Bhim Rawal, had expressed their reservations over tabling and endorsement of the MCC Compact from the parliament.
Earlier today, the government had tabled an “interpretative declaration’ on Millennium Challenge Corporation(MCC) grant agreement at the parliament meeting. The Cabinet had decided to ratify the MCC agreement along with the ‘interpretative Declaration’.
Among other things, the “Interpretative Declaration’ states that Nepal will not be part of any military alliance and the government will scrap the grant agreement if the provisions of the MCC grant agreement violate Nepal’s domestic laws.
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