The Millennium Challenge Corporation (MCC) has proposed an amendment to its existing agreement with Nepal to provide an additional $50 million. This funding aims to address increased costs and continue the Electricity Transmission Project, which is part of a larger plan to boost electricity use and reliability in Nepal. The amendment results from past delays and cost escalations due to global inflation and procurement challenges. This additional funding is expected to help the project meet its goals without further delays while maintaining high economic returns.
Simple Explanation
The United States is planning to give Nepal $50 million more for a big electricity project because things got more expensive than expected. This extra money will help finish building important electric lines in Nepal without more delays.