Kathmandu, April 24: The United States is likely to suspend the $500 million Millennium Challenge Corporation (MCC) project in Nepal. The MCC project has been completely shut down following the order of US President Donald Trump.

According to news agency AFP, at a meeting of MCC staff on Wednesday, an executive officer said the project is "systematically shutting down." "The meeting took place after Elon Musk's Government Efficiency Insurance informed through a letter that "significant reductions" "were to be made in the MCC."

With the closure of the MCC project, $500 million worth of US-assisted projects in Nepal will be stopped. The MCC will inform the MCC partner countries on Friday that the project will be closed within 40 days. Earlier, after discussions with Elon Musk's team, the MCC project was allowed to continue in Nepal, Ivory Coast, Mongolia and Senegal.

People’s News Monitoring Service