Kathmandu, Nov. 19 -- The government of Nepal and the US government's Millennium Challenge Corporation (MCC) have announced an additional US$50 million in US grant financing for the MCC Nepal Compact.

This brings the Compact's total value to US$747 million: US$550 million from the United States and US$197 million from the government of Nepal, said the US Embassy in a statement on Wednesday.

On January 2, the Millennium Challenge Corporation (MCC) Board of Directors approved $50 million of additional funding for the Nepal Compact but was stopped to release after Donald Trump got elected as the President of the United States of America and announced a review of all foreign assistance.

"The additional funding reaffirms our mutual dedicati...