Nepal, EU sign grant agreement of more than Rs. 10.5 billion

Kathmandu: A grant agreement of more than Rs. 10.5 billion has been signed between Nepal and the European Union (EU) for two different programs.

At a program organized at the Finance Ministry, Singha Durbar, today, two separate Financing Agreements - a grant agreement of 50 million pound sterling (equivalent to Rs. 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan - SESP, and a grant agreement of 22 million pound sterling (equivalent to Rs. 3.25 billion) for the 'Local Adaptation to Climate Change' initiative - were signed.

'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach (SWAP) supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal that can play an active role in the social and economic development of the country.

On the occasion, Finance Secretary Arjun Prasad Pokharel said, 'I am hopeful that the support of SESP with the help in increasing equitable access and improving the quality of education, which are crucial for human capital development.'

"Nepal is making sincere efforts to balance the development and climate action. I appreciate the support of the EU to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities to enable the selected local levels and communities to manage their natural resources regarding adaptation to climate change. I would like to thank the European Union for its continued support in the socio-economic development endeavors of Nepal,' stated Pokharel.

Similarly, EU Commissioner for International Partnerships, Jutta Urpilainen, mentioned, 'The European Union is proud to continue our 20-year support to Nepal in education. Supporting quality education is one of our core commitments in our cooperation.'

'We are heartened by the government's commitment to supporting quality education and are happy to be a close partner,' stated EU Ambassador to Nepal, Nona Deprez.

'The European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali so they are empowered to make the most of their natural resources sustainable,' said Nona Deprez, EU Ambassador to Nepal.

'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, reads a press release issued by the Finance Ministry.

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