KATHMANDU, Nov. 29: The European Union (EU) has agreed to provide a grant assistance of 8.5 million Euro (approximately Rs. 971.5 million) to the Government of Nepal for the implementation of the Project entitled ´Support to the Electoral Cycle in Nepal´.
An agreement to this effect was signed between the Government of Nepal and the European Union (EU) and it was preceded by the signing of the Project Document between Election Commission and United Nations Development Programme (UNDP).
Both the agreements were signed at the Ministry of Finance today.
The overall objective of the Project is to support further deepening and consolidation of Nepal´s democracy, and the specific objective is to support core electoral stakeholders, principally, the Election Commission, Nepal (ECN) to secure a free, fair and credible electoral processes.
The Project will aim to achieve-Strengthened capacity of the ECN to function as permanent, independent, credible and professional institutional of governance, Election Cycle conducted in an effective, sustainable and credible manner, and increased democratic participation in the next cycle of elections, particularly for under-represented and disadvantaged segments of Nepali society.
The ECN is the implementing agency and the duration of the Project is 48 months. The UNDP will administer the Project.
The financing agreement was signed by Joint Secretary at the Ministry of Finance, Madhu Kumar Marasini and Director of European Commission Dirk Meganck on behalf of Government of Nepal and European Commission, respectively.
The Project Document was signed by Joint Secretary of the ECN Maheswor Neupane and Country Director of UNDP, Shoko Noda.
The Government of Nepal has expressed its sincere appreciation to the European Union for this assistance and also for the keen interest and continued support in the socio-economic development of Nepal, according to the Ministry of Finance