Kathmandu, Jul 14 (PTI) US Assistant Secretary of State Donald Lu on Friday met Nepalese Foreign Minister N P Saud and warranted continued American help to the Himalayan nation because it graduates from the checklist of the Least Developed Countries.

During the assembly at Singhdurbar right here, Lu and Saud mentioned the implementation of USD 500 million MCC-Compact, which marks a brand new chapter within the US-Nepal Partnership aiming to extend the supply and reliability of electrical energy, enhance roads, and facilitate energy commerce throughout South Asia, a press release from Nepal’s Foreign Minister Secretariat mentioned.

Also Read | Bastille Day 2023: PM Narendra Modi Praises 99-Year-Old French Yoga Teacher Charlotte Chopin.

The two leaders additionally “discussed Nepal’s graduation from the list of LDC (Least Developed Countries) as well as bilateral interests of the two countries’, the statement said.

The US official assured Saud of the US government’s continued assistance to Nepal.

Also Read | India-Japan Business Summit in Bengaluru Explores Collaboration for Economic Growth.

“The US authorities will, as an outdated improvement associate, proceed its help to Nepal in future too,” the assertion quoted Lu as saying.

According to the UN, Nepal is scheduled to graduate from the group of Least Developed Countries on 24 November 2026.

The Millennium Challenge Corporation (MCC) is an progressive and impartial US overseas help company that’s serving to lead the battle towards international poverty.

The MCC-Compact goals to keep up street high quality, improve the supply and reliability of electrical energy, and facilitate cross-border electrical energy commerce between Nepal and India—serving to to spur investments, speed up financial progress, and scale back poverty.

Lu, who’s on a day-long go to to Nepal, additionally appreciated the achievements made by a bigger group of Nepalese residing within the US and their contribution to the US economic system.

The two leaders additionally make clear the significance of the change of high-level bilateral visits between the US and Nepal within the mild of enhancing relations between the 2 nations.

The US Embassy in Kathmandu within the assertion mentioned: “US Assistant Secretary Lu is here in Nepal as part of his regular diplomatic engagement in the region.”

“Lu met with Prime Minister Pushpakamal Dahal Prachanda and expressed condolences on the demise of his wife Sita Dahal,” the US Embassy mentioned.

“With Saud and former prime ministers K. P. Oli and Sher Bahadur Deuba, Lu discussed Nepal’s achievements on its Summit for Democracy commitments, the recent bolstering of human rights protections in Nepal, and the progress of the MCC-Compact to date, which will commence implementation in August and within the next five years provide essential electrical infrastructure, improve capacity for roads maintenance and creating thousands of jobs,” the assertion mentioned.

During his regional tour, Lu additionally visited Bangladesh and India in addition to Nepal.

“High-level diplomatic engagements are a routine part of strengthening both US- Nepal and regional partnerships in furtherance of a more secure, sovereign, prosperous, and democratic world,” mentioned the US Embassy assertion.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff might not have modified or edited the content material physique)