Mcc Nepal Agreement

In line with the MCC agreement between the MCC and the Nepalese government, the pact will remain in force five years after its entry into force until its end. Prithvi Man Shrestha is a political journalist for the Kathmandu Post, which covers government issues such as corruption and irregularities in the government machine. Before joining the Kathmandu Post in 2009, he worked for three years at nepalnews.com and Rising Nepal and focused mainly on political and economic affairs. In April 2018, AGOA and mca modernization act authorized MCC to enter into simultaneous pacts for cross-border economic integration, trade and cooperation. In December 2018, MCC`s Board of Directors elected five West African countries as simultaneous acts: Benin, Burkina Faso, Côte d`Ivoire, Ghana and Niger. In 2019, in response to the Ghanaian government`s decision to terminate the concession contract between Electric Company of Ghana Ltd (ECG) and private operator Power Distribution Services Ghana Ltd (PDS), Ghana did not reduce regional investment. However, another part of the ruling party, led by Prime Minister KP Sharma Oli, has defended the pact and wants the current session of the House to ratify it. Nepal`s opposition Congress also argued that the agreement should be approved without delay. The MCC pact does not say it needs to be ratified by the Nepalese parliament. However, the text of the agreement stipulates that in the event of a conflict, the provisions of the Covenant take precedence over nepal`s existing laws, which requires parliamentary ratification under the Nepal Treaty Act.

The MCC is the first grant agreement submitted to Parliament for approval. However, it is also the largest financial assistance agreement ever signed by Nepal. The Pacts are five-year agreements between MCC and an eligible country to finance specific programmes aimed at reducing poverty and stimulating economic growth. MCC`s unique model for the development of compact programs reflects the principles that marked the creation of the Agency in 2004. These include the principle of country-specific participation, the belief that aid is most effective if it is based on a partnership (or pact) in which recipient countries take greater responsibility for their own economic development. . . .

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