The funds to be provided by US Agency for International Development (USAID) will be used over the next five years to reinforce recent gains in democratic processes, improving governance, expanding proven health interventions in maternal and child health, improving literacy, increasing economic growth and addressing the challenges of food insecurity and climate change.

The assistance agreement was signed on Thursday by Beth Dunford, Mission Director of USAID Nepal and Madhu K Marasini, Joint Secretary, Ministry of Finance, according to a statement issued by US Embassy here.

"This agreement reflects the American people's continued commitment to development priorities in Nepal... USAID, working together with the Government of Nepal, seeks to build on the efforts and successes of the past and create a Nepal where the most vulnerable are lifting themselves out of extreme poverty and contributing to stable, resilient democratic societies," Dunford said.

Latest News from World News Desk