KOICA provides USD 2.5 million for financial access to Korea returnee migrants
The Korea International Cooperation Agency (KOICA) and the Agricultural Development Bank Limited (ADBL) in witness of the Ministry of Labour, Employment and Social Security (MoLESS) have officially partnered to launch a strategic financial support initiative aimed at the stable reintegration of Nepali migrant workers returning from the Republic of Korea.
The initiative is implemented under the project "Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal”.
The two organizations will implement a dedicated program to provide increased access to finance for eligible beneficiaries who are returnee migrants from Korea and have participated in the K-HaMi Project, completing relevant entrepreneurship training till 2028, KOICA stated in a press release today.
The program features a robust financial structure designed to provide sustainable, long-term support.
Out of the total project budget of USD 8 million, KOICA will provide USD 2.5 million for this program, which will be utilized only for interest subsidy for the loan extended to the eligible Korea returnees. Whereas, ADBL will allocate approximately NPR 1.2 billion (USD 8 million approximate) to be used as loan capital for Korea returnees.
It is estimated that 200 to 250 beneficiaries will be supported through this fund, depending on individual loan sizes and total fund utilization.The average loan size is projected at Rs 5 million.
The primary objective of this partnership is to create a stable environment for entrepreneurship by overcoming the financial barriers often faced by returnee migrants. By improving access to capital, the program seeks to utilize the skills and experiences gained in Korea to drive local economic growth in Nepal.
Country Director of KOICA Mooheon Kong, states that the program is specifically designed for returnee migrants from Korea who have demonstrated a commitment to their reintegration by participating in the K-HaMi Project and successfully completing relevant entrepreneurship training.
By focusing on this group, the initiative ensures that the capital is paired with the necessary business skills for long-term success.
Similarly, Joint Secretary of MoLESS Krishna Sapkota shared that the K-HaMi project launched by KOICA for Korea returnee migrants has been highly successful in reintegration, skill development and financial literacy.
He added that the access to finance component will be the most impactful component of this project.
He expected similar projects from other donors too.
Deputy General Manager at ADBL, Sudip Dahal, said that ADBL is fully committed to implement this program. He stated that the ADBL is eager to work in the area of enterprise development and youth employment creation.
This collaboration marks a significant milestone in the bilateral relationship between South Korea and Nepal, moving beyond labor migration toward a model of sustainable economic reintegration.
By transforming returnees into job creators, KOICA, MoLESS and ADBL are investing in the long-term prosperity of the Nepali economy.
As KOICA marks over three decades of development cooperation in Nepal, it reiterates its commitment to fostering inclusive, resilient, and sustainable communities.
Since 1991, KOICA has been a key development partner of Nepal, supporting vital sectors such as health, education, agriculture, vocational training, IT, rural development, and tourism. More than 2,921 KOICA volunteers have served in Nepal, and over 2,230 Nepali officials have participated in KOICA’s fellowship programs.
With development assistance exceeding USD200 million by 2025, the partnership between Nepal and the Republic of Korea continues to grow stronger.
Trump says Iran war should end 'soon', both sides may meet at weekend
US President Donald Trump expressed confidence that an agreement could soon be reached to end the Iran war and urged the Tehran-aligned Hezbollah group to hold its fire as a 10-day truce came into effect between Lebanon and Israel, Reuters reported.
Trump said the next meeting between the United States and Iran could take place at the weekend and an extension of a two-week ceasefire was possible, but may not be needed as Tehran wanted a deal.
"We're going to see what happens. But I think we're very close to making a deal with Iran," he told reporters outside the White House, adding that if an agreement was reached and signed in the Pakistani capital Islamabad, he may go there for the occasion.
Nepse surges by 5. 36 points on Friday
The Nepal Stock Exchange (NEPSE) surged by 5. 36 points to close at 2, 838. 40 points on Friday.
Similarly, the sensitive index dropped by 0. 53 points to close at 476. 92 points.
A total of 18,063,728-unit shares of 335 companies were traded for Rs 1. 61 billion.
Meanwhile, Suryakunda Hydro Electric Limited (SKHEL), Hotel Forest Inn Limited (HFIN), Palpa Cement Industries Limited (PCIL) and Shikhar power Development Limited (SIPD) were the top gainers today with its price surging by 10. 00 percent.
Similarly, Asian Hydropower Limited (AHL) was the top loser as its price fell by 4. 84 points.
At the end of the day, the total market capitalization stood at Rs 4. 88 trillion.
Qatari envoy calls on Minister Khanal
The Ambassador of Qatar to Nepal, Mishal Mohammed Al Ansari, paid a courtesy call on Foreign Minister Shisir Khanal at the Ministry on Thursday.
During the courtesy call, views were exchanged on further strengthening bilateral relations in areas of mutual interest, including labour migration, partnership in hydropower and agriculture, tourism and investment promotion, according to the Ministry.
It is said that matters commemorating the 50th anniversary of the establishment of diplomatic relations between Nepal and Qatar were also discussed on the occasion.
