Nepal, Korea sign two agreement worth Rs 2 billion

KATHMANDU: Nepal and Korea Sign two separate agreements for Stable Reintegration of Korea Returnee Migrants and Strengthening Cyber Bureau of Nepal Police

The Ministry of Finance (MoF) on behalf of the Government of Nepal and the Embassy of the Republic of Korea on behalf of the Government of the Republic of Korea signed the Memorandum of Understanding (MoU) for two projects “Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal” and “Establishment of Cyber Bureau with Capacity Building for Nepal Police” at the Ministry of Finance.

For these two projects, Korea agrees to extend a total of $16 million (approximately Rs 2.00 billion) $8 million each as grant assistance to Nepal.

The MoUs to this effect were signed by Krishna Hari Pushkar, Finance Secretary and H.E. Chong-suk Park, Ambassador of the Republic of Korea to Nepal.

The projects will be implemented by Korea International Cooperation Agency (KOICA) in close collaboration and coordination with respective line ministries and other government agencies.

Korea Returnee migrant support project aims to contribute to socio-economic development of Nepal and increase employment through stable reintegration of Korea returnee migrants and enhancement of their entrepreneurship capacity.

The project will also create a virtuous cycle and support system for Korea returnee migrants in Nepal for their enhanced information accessibility, and increased access to financial support through Agriculture Development Bank Limited.

Similarly, the main objective of the Cyber Bureau project is to strengthen the anti-cyber-crime capabilities of Nepal Police wherein, the main component of the project is to construct a state-of-art building of the Cyber Bureau, provide equipment related to cyber-crime investigation and digital forensic lab and capacity building of relevant human resources of Nepal Police.

Finance Secretary Krishna Hari Pushkar, in his brief remark, expressed the importance of these two project in equipping and capacitating Cyber Bureau to control increasing cases of cyber-crime as well as reintegrating the returnee migrant workers from Korea to establish themselves in their society and to increase their employability in Nepal.

During the event, H.E Chong-suk Park expressed his concerns on the rate of cybercrimes that is massively increasing worldwide and in Nepal as well and he hoped that the Cyber Crime Control Project shall be an important support to strengthen the capacity of Nepal Police to control cybercrimes in Nepal.

Similarly, H.E Park stated that through the Korea Returnee Migrants project the large number of Korea returnees can utilize their skills and establish enterprise, which can generate employment and contribute in economic growth of the country.