Nepalese Parliament has approved a $500 million U.S. government aid program Millennium Challenge Corporation (MCC) despite Chinese objections.
- Nepal’s Parliament on February 27 ratified the contentious US-funded USD 500 million MCC Nepal compact along with an ‘Interpretive Declaration’ a day ahead of the February 28 deadline set by the USA.
- The Millennium Challenge Corporation (MCC) is a bilateral United States foreign aid agency established by the US Congress in 2004. It is an independent agency separate from the State Department and USAID.
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