The government of Korea, Korea International Cooperation Agency (KOICA), has agreed to provide 10 million US dollar (approximately Rs 1.02 billion) grant assistance to the project for the Integrated Rural Development of Nepal through Strengthening Research and Development Capacity of Kathmandu University (KU).
The objective of the project is to contribute for integrated rural development of Nepal by strengthening research and development capacity of KU and to promote technology innovation for improving quality of life and income status of people in rural communities in Nepal.
Speaking at a program organised at the Ministry of Finance Tuesday, Finance Secretary Shankar Prasad Adhikari, and Park Young-sik, Ambassador of Korea to Nepal, signed the MoU.
Kathmandu University is an autonomous and non-for-profit institution dedicated to maintain high standards of academic excellence.
The implementing agencies of the project are KOICA, Nepal and KU. The duration of the project will be from 2018-2023.
On the occasion, Finance Secretary, Adhikari, on the behalf of the government, expressed appreciation to the government of Korea for this assistance and its continued support in the socio-economic development of Nepal.