Kathmandu, Feb. 18 -- The US has halted the multi-million US Dollar Millennium Challenge Corporation (MCC) pact aiming to bolster the road and transmission capacity of the Himalayan nation, the Nepalese Finance Ministry announced.

Issuing a release on Tuesday, the Finance Ministry stated,"The US aid agency Millennium Challenge Corporation (MCC) has informed stakeholders through an e-mail dated 2081/11/2 (16 February, 2025) that the payment to be made from MCC Fund for the projects being implemented under the compact concluded between the Government of Nepal and the said agency on 29 Bhadra, 2074 BS (14 September, 2014) have been suspended in accordance with the Executive Order of the US President issued on January 20, 2025 regarding the ...