MCC Agreement Approved by the House of Representatives

Kathmandu. The House of Representatives approved the agreement with the US Millennium Challenge Corporation (MCC) with “explanatory remarks”.

In the second meeting of the House of Representatives, the MCC agreement with the explanatory declaration presented by Finance Minister Janardan Sharma was approved.

The Finance Minister had proposed a 12-point explanatory declaration incorporating the questions raised about the MCC agreement.

The explanatory remarks include issues such as the MCC not being part of the Indo-Pacific strategy, taking it only as a purely economic and development project, and the constitution of Nepal being paramount.

The agreement to pass the agreement with the MCC with explanatory remarks has saved the ruling coalition from collapsing. A meeting of the ruling coalition on Sunday morning decided to approve the MCC with explanatory remarks.