Kathmandu: Government of Nepal and the Government of the Republic of Korea on Wednesday signed a grant agreement worth US$ 9 million (approximately Rs 1.25 billion) to implement the “Infrastructure Development of Gandaki Technical School under Gandaki Technical Education and Vocational Training Academy” project.
On behalf of Nepal, Finance Secretary Ghanshyam Upadhyaya signed the agreement, while Ambassador of South Korea to Nepal, Park Tae-young, signed on behalf of the Korean government.
Speaking at the signing ceremony, Ambassador Park Tae-young said the investment goes beyond buildings and infrastructure, focusing on human resources, skills, and the future workforce of Nepal. He emphasized that through this project, Korea aims to enhance Nepal’s capacity to deliver quality technical education.
Finance Secretary Upadhyaya noted that Korea has long been a partner in Nepal’s education sector and that this agreement reflects Korea’s stronger commitment to Nepal’s development. He added that the initiative will help produce skilled manpower aligned with labour market demands, create employment opportunities, and contribute to Nepal’s socio-economic progress.
According to the Ministry of Finance, the project will be implemented by the Korea International Cooperation Agency (KOICA) on behalf of the Korean government, while on Nepal’s side, the Ministry of Social Development, Youth and Sports of Gandaki Province, together with the Gandaki Technical Education and Vocational Training Academy, will serve as the implementing agencies.
The project is scheduled to be completed by 31 December 2030.
The ministry further stated that the main objective of the project is to produce competent and skilled human resources in line with Nepal’s Technical and Vocational Education and Training (TVET) policy and the country’s 16th periodic development plan, responding to the needs of the 21st century.
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