Nepal, Korea sign two seperate agreements

KATHMANDU, SEPTEMBER 23 ; The Ministry of Finance (MoF) and the Embassy of the Republic of Korea have today signed two separate Memorandum of Understandings (MoUs) pertaining to the “Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal” and “Establishment of Cyber Bureau with Capacity Building for Nepal Police” projects at the office of the MoF in the capital. For these two projects, the embassy agrees to extend a total of US$ 16 million (approximately NRs 2.00 billion) to the US $ 8 million each as grant assistance to Nepal.

The MoUs were inked by Krishna Hari Pushkar, Finance Secretary, and Chong-suk Park, Ambassador of the Republic of Korea to Nepal. The projects will be implemented by Korea International Cooperation Agency (KOICA) in close collaboration and coordination with respective line ministries and other government agencies.

The Korea Returnee migrant support-related project aims to contribute to the socio-economic development of Nepal and increase employment through stable reintegration of Korean returnee migrants and enhancement of their entrepreneurship capacity. The project will also create a virtuous cycle and support system for Korean returnee migrants in Nepal for their enhanced information accessibility, and increased access to financial support through Agriculture Development Bank Limited (ADBL).

Similarly, the main objective of the project related to the Cyber Bureau is to strengthen the anti-cyber-crime capabilities of Nepal Police wherein, the main component of the project is to construct a state-of-art building for the Cyber Bureau, provide equipment related to the cyber-crime investigation, and digital forensic lab and capacity building of relevant human resources of Nepal Police.

Finance Secretary Krishna Hari Pushkar, in his brief remark, expressed the importance of these two projects in equipping and capacitating the Cyber Bureau to control increasing cases of cyber-crime as well as reintegrating the returnee migrant workers from Korea to establish themselves in their society and to increase their employability in Nepal.

During the event, Chong-sukPark expressed his concerns about the rate of cybercrimes that are massively increasing worldwide and in Nepal as well and he hoped that the Cyber Crime Control Project shall be an important support to strengthen the capacity of Nepal Police to control cybercrimes in Nepal. Similarly, H.E Park stated that through the Korea Returnee Migrants project a large number of Korean returnees can utilize their skills and establish enterprises, which can generate employment and contribute to the economic growth of the country.