Korea Commits $9.8 Million for Green Job Creation in Pokhara: MoU Signed with Nepal to Foster Sustainable Practices
The Government of Korea has pledged a substantial assistance package of 9.8 million US Dollars towards the establishment of green employment opportunities in Pokhara.
This commitment was formalized through a Memorandum of Understanding (MoU) for the project titled 'Green Job Creation through Recycling and Up-cycling Project in Pokhara Metropolitan City (PMC)'. The MoU signing ceremony, held at the Ministry of Finance, featured Ambassador Taeyoung Park representing Korea and Finance Secretary Madhu Kumar Marasini from Nepal. The funding, facilitated by the Korea International Cooperation Agency (KOICA), will be channeled into the initiative, with the United Nations Development Programme (UNDP) spearheading project implementation in Pokhara, in collaboration with the Ministry of Federal Affairs and General Administration (MoFAGA) and Pokhara Metropolitan City.
The primary aim of the project is to cultivate sustainable recycling and up-cycling enterprises, thereby promoting environmentally conscious economic practices. Central to this endeavor is the establishment of a Green Venture Zone (GVZ), envisioned as a cutting-edge hub for recycling, up-cycling, innovation, and entrepreneurship. The GVZ will serve as a platform to showcase final products crafted from recycled materials, hosting national and international events focused on environmental themes within its exhibition halls.
Expressing gratitude for the collaboration, Secretary Marasini conveyed appreciation to the Korean Government, highlighting the project's potential to bolster bilateral relations. Ambassador Park underscored the initiative's capacity to empower unemployed individuals through skill development, fostering the establishment of green ventures and contributing to Nepal's economic growth. He further emphasized the project's pivotal role in enhancing community awareness and engagement in proper waste management practices.
The ceremony also commemorated the 50th anniversary of diplomatic relations between Nepal and Korea, with Ambassador Park affirming Nepal's status as a priority country for Korean development cooperation. He pledged to strengthen bilateral ties and cooperation further, citing Nepal's strategic importance in Korea's development endeavors. Korea has been a steadfast supporter of Nepal through KOICA since 1991, extending assistance in various sectors including health, vocational training, rural development, and information technology. As of 2023, KOICA's cumulative support to Nepal has exceeded two hundred million US Dollars.
