KOICA marks 30 years in Nepal with $29 million grant agreement
Agency: The Korea International Cooperation Agency (KOICA) commemorated three decades of development partnership in Nepal with a commemorative event today in Kathmandu titled “Together for 30 Years: A Journey of Trust and Cooperation”.
As KOICA reflects on its three decades of development work in Nepal, it renews its commitment to working closely with the government of Nepal and local communities to build a more inclusive, resilient, and prosperous future.
The event’s most significant activity was the signing of three large project agreements that establish KOICA’s strategic priorities for the upcoming years. The first was the signing of a Memorandum of Understanding between Ghanshyam Upadhyaya, Secretary of the Ministry of Finance, and Park Tae-Young, Ambassador of the Republic of Korea Embassy in Nepal, for the establishment of the Gandaki Institute of Technology, a USD 9 million project to be carried out between 2025 and 2030.
Following that, two new projects’ Record of Discussion documents were signed. The USD 10 million Value Chain Development Project (Phase II) in Lumbini Province will run from 2025 to 2031 and was signed by Dr. Hari Bahadur K.C., Joint Secretary of the Ministry of Agriculture and Livestock Development, and Mooheon Kong, Country Director of KOICA.
