Projects under MCC expected to start on August 30
Kathmandu, August 17 Projects under the Millennium Challenge Corporation (MCC) are expected to start on August 30. According to government sources, the projects under MCC have to be completed in the next five years. “In the meeting of the board of directors of Millennium Challenge Account (MCA) Nepal, which implements this project, an agreement has been reached to make ‘entry into force’ on 30th August,” said the government source. The MCC has already given the green light to undertake the project from this date. The projects, however, will have to be completed by August 29, 2028, as per the agreement between MCC and Nepal government. If the project is not completed in five years, the MCC will take back the remaining amount that has not been spent. This term in the agreement forces the Nepal government to complete the project within the given deadline. That said, the government has not acquired the land required for the project, which it should have before the project. However...