This week, Millennium Challenge Corporation CEO Alice Albright visited Kathmandu, Nepal, to formally and ceremonially launch a $500 million development compact between Nepal and the United States.
More than 10 years in the making, the compact will invest in roads and reliable power for a country where 15.1% of the population lives off less than $1.90 per day and 28% of people lack access to consistent electricity.
Nepal was first selected to develop a threshold program in December 2011. According to an MCC spokesperson, following a consistently improved scorecard performance, the MCC board selected Nepal for a compact in December 2014. MCC and the government of Nepal signed the compact in September 2017.
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About the author
Jason Steinhauer
Jason Steinhauer is an author and public historian in Washington, D.C. He is the founder of the History Communication Institute and author of the bestselling book "History, Disrupted: How Social Media & the World Wide Web Have Changed the Past." He is currently a global fellow at The Wilson Center and a senior fellow at the Foreign Policy Research Institute. Past bylines include TIME, CNN, and The Washington Post.
