A Memorandum of Understanding (MoU) was signed between the Government of Korea, and Ministry of Finance, Government of Nepal, for launching Kathmandu University Integrated Rural Development Project (KUIRDP).
The Government of Korea will provide 10 million US dollar (approximately Rs 1.02 billion) grant assistance to the Project with the objective to contribute in integrated rural development of Nepal by strengthening research and development capacity of Kathmandu University (KU), and to promote technology innovation for improving quality of life and income status of people of rural communities in Nepal.
At a program organized at the Ministry of Finance, Mr. Shankar Prasad Adhikari, Finance Secretary, and His Excellency Park Young-sik, Ambassador of Korea to Nepal, signed the MoU.
The implementing agencies of the Project are Korea International Cooperation Agency (KOICA), Nepal, and Kathmandu University. The duration of the Project will be five years from 2018 to 2023.