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Korea International Cooperation Agency (KOICA) and Agricultural Development Bank Limited (ADBL), signed an agreement to implement the component “Increased Access to Financial Support for Korea Returnee Migrants.”

This component falls under the Memorandum of Understanding (MoU) signed between the Government of the Republic of Korea and the Government of Nepal on September 23, 2022 for the project “Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal.”

The Agreement was signed by Mooheon Kong, CD of KOICA and Govinda Gurung, CEO of the ADBL, where Dhani Ram Sharma, Joint Secretary of FACD, Ministry of Finance and Krishna Prasad Sapkota, Joint Secretary of the Ministry of Labor Employment and Social Security MoLESS signed the agreement as the witness.

The main objective of this program is to create a stable environment for entrepreneurship by improving financial access for Korea returnee migrants in Nepal. For this eligible Korea returnee will get subsidized loan from the ADBL. The loan will be subsidized for 5 years, reads a statement issued by KOICA. 

KOICA will provide USD 2.5 million (approximately NPR 320,000,000) for the Program. KOICA’s contribution will be used solely for interest subsidies. ADBL will contribute approximately NPR 1.2 billion (1,200,000,000) as loan capital for the Program.

It is estimated that the Program is expected to support approximately 200 to 250 Korea returnees with an average loan size of Rs 5 million.  The program will run from 2026 to 2028. The interest subsidy will be provided for the period of 5 years.

Through this program Korea returnees will have full opportunity to employ their skills and establish successful enterprises that support the local economy. In addition to this, local employment will be created.

In the event KOICA CD stated that it is a shared commitment to empowering Nepali returnee migrants who have contributed their skills, labor and aspirations while working in Korea. As they return home, it is our collective responsibility to create an enabling environment where they can reintegrate with dignity, security and opportunities for long-term economic stability, according to KOICA. 

In the event, Joint Secretary Sapkota stated that Nepal and the Republic of Korea share a longstanding relationship grounded in cooperation, mutual respect, and a shared vision for human-centered development. Our collaboration in the employment and migration sector especially through the Employment Permit System (EPS) has benefitted thousands of Nepali workers. As these workers return home with experience, skills, and aspirations for a better future, it becomes essential that we, as institutions, support their smooth and productive reintegration.

Similarly, Joint Secretary Sharma stated that KOICA has always been a meaningful partner. Its cooperation has been meaningful and very much effective.

ADBL CEO stated that the program is new and very much useful for returnee migrants who wish to start their own venture. He further stated that the ADBL will execute this program successfully and look forward to such innovative programs in the future.

Kathmandu University, School of Science and Sathsathai Foundation have signed a Memorandum of Understanding(MoU) to work together in the multiple areas including climate change.

Speaking at the event, Prof. Dr. Bed Mani Dahal, Dean of the School of Science, stated that collaborating with Sathsathai Foundation is highly important for linking environmental aspects with socio-economic perspectives, which also aligns with the foundation’s vision. He elaborated on the major areas of cooperation, including joint research design and implementation.

Assistant Professor Smriti Gurung of the School of Science shared that both parties can jointly raise issues of climate justice through practical and actionable solutions.

Dr Siddhartha Bajra Bajracharya, Vice President of Sathsathai Foundation, highlighted the organization’s work in promoting sustainable tourism and empowering local communities, and shed light on the initiatives the foundation has undertaken so far.

Sathsathai Foundation’s President, Prajita Karki, mentioned that they have been raising local climate-justice issues in international forums. Since its establishment, Sathsathai Foundation has been contributing to research, studies, and policymaking on various climate- and environment-related issues, while bringing Nepal’s agendas to the international arena.

Earlier, the university and the foundation had already been collaborating—particularly on COP-28 and implementation of Coal Exit Program which was launched on World Environment Day. 

The Nepal Stock Exchange (NEPSE) gained 50. 44 points to close at 2, 650. 66 points on Monday.

Similarly, the sensitive index surged by 7. 84 points to close at 456. 13 points.

A total of 14,204,362-unit shares of 330 companies were traded for Rs 7. 03 billion.

Meanwhile, Jhapa Energy Limited (JHAPA) was the top gainer today, with its price surging by 10. 00 percent. 

Likewise, Mabilung Energy Limited (MABEL) was the top loser as its price fell by 4. 44 percent.

At the end of the day, total market capitalization stood at Rs 1. 50 trillion.

Nepali Congress General Secretary Gagan Thapa has claimed that the party will not contest the upcoming elections to the House of Representatives under the signature of the current President Sher Bahadur Deuba.

Stating that a new leadership will emerge from the special general convention, he said that the Congress will contest the elections under the signature of the newly elected president.  

Nepali Congress has registered the party for the House of Representatives and National Assembly elections under the signature of President Sher Bahadur Deuba. Therefore, there are speculations that Deuba, who had entrusted Vice President Purna Bahadur Khadka with the responsibilities of acting party president, had returned to active politics with an intention to influence ticket distribution.

Meanwhile, he said that there is no alternative to special general convention in the Congress.

Thapa further said that the signature of Deuba submitted in the Election should be replaced once the new president is elected.