Kathmandu: Nepal and the European Union (EU) have signed a significant grant agreement amounting to more than Rs 10.5 billion for two key programs. The agreement was formalized at a ceremony held at the Finance Ministry, Singha Durbar.

The first part of the agreement involves a grant of 50 million pounds sterling (approximately Rs. 7.38 billion) for the 'Quality Education for All' program, aimed at supporting the School Education Sector Plan (SESP). This initiative is part of a sector-wide approach (SWAp) and is backed by eight development partners, including the EU. The primary goal is to contribute to the creation of a well-educated and skilled society in Nepal, enabling active participation in the country's social and economic development.

In addition, a grant of 22 million pounds sterling (approximately Rs. 3.25 billion) has been allocated for the 'Local Adaptation to Climate Change' initiative. This project seeks to enhance the sustainability and conservation of natural resources, particularly focusing on increasing climate resilience in the provinces of Sudurpaschim and Karnali.

During the ceremony, Finance Secretary Arjun Prasad Pokharel expressed optimism about the impact of the support in improving equitable access to quality education. He emphasized the importance of human capital development in Nepal's overall progress.

Furthermore, Nepal is making genuine efforts to balance development and climate action, with the EU providing assistance in developing measures for disaster risk reduction and enhancing human and financial capacities for effective management of natural resources in the context of climate change adaptation.

The EU Commissioner for International Partnerships, Jutta Urpilainen, reaffirmed the EU's commitment to supporting quality education, which has been a core focus of their cooperation with Nepal for the past 20 years.

EU Ambassador to Nepal, Nona Deprez, expressed appreciation for the government's commitment to quality education and highlighted the European Union's ongoing role as a close partner in Nepal's socio-economic development endeavors.

Under the 'Local Adaptation to Climate Change' initiative, the EU and Finland, collectively known as Team Europe, will collaborate with local and provincial governments in Sudurpaschim and Karnali to empower them in sustainable management of their natural resources.

This grant agreement signifies the continued support of the European Union to Nepal's development efforts and reinforces their dedication to enhancing education and addressing climate change challenges in the country.