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EU's 60m euro aid to Nepal

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KATHMANDU, Feb 22: The European Union (EU) has agreed to provide 60 million euros for three sectors -- education, stability and peace building, and trade and economic capacity building -- to Nepal.



According to an EU statement issued on Tuesday, a Memorandum of Understanding between a EU delegation and the government of Nepal was signed on the Multi-Annual Indicative Program (MIP) for the period 2011-2013. [break]



The EU has been working in these three major areas of cooperation on the basis of a Country Strategy Paper covering the period 2007-2013 and the MIP 2011-2013, both of which have been designed in close consultations with the government of Nepal and the donor community.



The indicative financial envelope of 60 million euros is about 33 percent higher than the 2007-2010 program, the statement reads.



The statement adds that the increase, together with the concentration on a limited number of sectors, is an expression of the European Commission´s commitment to maximise impact, in line with the Paris Declaration and the European Consensus for Development Co-operation.


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