Nepal, May 20 -- Millennium Challenge Account (MCA) Nepal, the agency responsible for implementing the Millennium Challenge Corporation (MCC) grant, spent Rs 1.92 billion in the first nine months of the current fiscal year 2024/25.

The Ministry of Finance provided this data based on figures of up to mid-April. For the current fiscal year, it allocated a total budget of Rs 13.36 billion to MCA Nepal, including grants and other sources. The allocation included Rs 1.24 billion for recurrent expenditure and Rs 12.12 billion for capital expenditure.

By mid-April, MCA Nepal was supposed to spend Rs 7.13 billion-Rs 845.8 million for recurrent expenses and Rs 6.28 billion for capital expenditure.

Instead, it spent only Rs 465 million on recurr...