US State Secy Blinken, Nepal's counterpart Saud discuss expanded development finance corporation investment in Nepal
Oct 31, 2023
Washington DC [US], October 31 : US Secretary of State Antony Blinken held a meeting with Nepal's counterpart Narayan Prakash Saud and emphasized the strength of the partnership between the two nations.
The two leaders discussed expanded development finance corporation investment in Nepal, including a new USD 125 million loan to a Nepalese bank to provide loans to small and medium-sized enterprises.
The two leaders highlighted the recently launched USD 500 million Millennium Challenge Corporation Compact that will build infrastructure, increase access to electricity, and support cross-border power trade, according to the statement released by US Department of State Spokesperson Matthew Miller.
Antony Blinken and Narayan Prakash Saud praised more than 60 years of partnership of Peace Corps Volunteers' service in Nepal. Blinken offered condolences to families of Nepali students who were victims of Hamas attacks on Israel and expressed concern for Bipin Joshi, who remains missing.
"They highlighted the recently launched USD 500 million Millennium Challenge Corporation Compact that will build infrastructure, increase access to electricity, and support cross-border power trade. The Secretary and Foreign Minister also praised over 60 years of partnership on Peace Corps Volunteers' service in Nepal," US Department of State Spokesperson Matthew Miller said in a statement.
"In addition, they discussed expanded Development Finance Corporation investment in Nepal, including a new USD 125 million loan to a Nepalese bank to provide loans to small- and medium-sized enterprises," he added.
Taking to X, Antony Blinken stated, "I met with Nepali Foreign Minister Narayan Prakash Saud to highlight US investment in Nepal, including a $500M compact from @MCCgov to support economic growth. The US sends our condolences to families of Nepali students who were victims of Hamas' terrorist attack on Israel."
Before the start of the meeting, Blinken noted that Nepal and the US have 76 years of diplomatic relations. He called Nepal a "very valued" partner in the Indo-Pacific region.
"We have 76 years of diplomatic relations between Nepal and the United States, and Nepal is today a very valued partner in the Indo-Pacific. We're working together to ensure that we have a free, open, secure, prosperous region," Antony Blinken said.
"And in so many ways, Nepal is leading, not just in the region but globally, as a very constructive actor in international organizations - of course, with so many peacekeepers who are trying to help people move from conflict to peace around the world. And in our own bilateral relationship, we're working to deepen it and strengthen it even more, particularly with more people-to-people ties, and as well, economic ties, investment," he added.
Meanwhile, Narayan Prakash Saud said Nepal and the US have "long and close relations." He called the US a "development partner" of Nepal.
"Nepal and the United States have very long and close relations. The United States is a development partner of Nepal. The United States is helping us in too many sectors, especially in (inaudible) health, education and now in the Middle East also, we are victims of terrorism. I would like to thank Mr Secretary for giving us condolence. We have lost our 10 students there, and one is kidnapped," Narayan Prakash Saud said.
