Kathmandu, July 28: The Ministry of Finance has stated that the United States has confirmed the continuation of projects under the Millennium Challenge Corporation (MCC) in Nepal. Issuing a press statement on Monday, the Ministry shared that MCC sent a letter on July 24 notifying the conclusion of its review process and recommending the continuation of the Nepal Compact.

The statement issued by Finance Ministry Spokesperson Shyam Prasad Bhandari read, “As per the letter dated July 24, 2025, from the U.S. aid agency Millennium Challenge Corporation (MCC), the review process—originally put on hold following an executive order issued by the U.S. President on January 20, 2025—has now been concluded, and the MCC has recommended the continuation of the Nepal Compact agreement signed between the Government of Nepal and MCC on September 15, 2017 (Bhadra 29, 2074 BS). This information has been shared with the concerned stakeholders.”

Previously, the MCC had informed in a letter dated March 5, 2025 (Falgun 22, 2081 BS), that implementation of the compact agreement signed in 2017 had been paused for review as per the U.S. President’s executive order. However, in its latest correspondence on Thursday, MCC confirmed that the review process is complete and the compact is now recommended for continuation.