Latest Millennium Challenge Corporation News & Updates

Trump administration aims to reduce US dependence on China for critical supplies

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Washington, July 16 (IANS) The Trump administration has told lawmakers that it is reshaping US development finance and overseas investment to reduce America’s dependence on China for critical minerals, energy, telecommunications and other strategic supply chains, arguing that economic security has become inseparable from national security.Appearing before the House Foreign Affairs Committee on Wednesday (local time), senior officials from the US International Development Finance Corporation (DFC…

Trump administration boosts investments in South and Southeast Asia to reduce reliance on China

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Washington, July 16 (IANS) The Trump administration has announced that it is stepping up investments in South and Southeast Asia as part of a broader strategy to reduce dependence on China for critical supply chains, as the US International Development Finance Corporation (DFC) approved $1.5 billion for energy infrastructure across the region. The funding is aimed at supporting American liquefied natural gas (LNG) exports and energy equipment while strengthening supply chains in a region Washing…

Nepal and India Agree to Boost Electricity Trade Through Cross-Border Transmission Lines

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Kathmandu, July 15 (IANS) Nepal and India have agreed to increase the volume of electricity traded between the two countries through two cross-border transmission line projects. During the 13th meeting of the Nepal–India Joint Steering Committee (JSC), an energy Secretary-level bilateral mechanism held in the western Nepali city of Pokhara, the two sides agreed that Nepal could export up to 1,650 MW of electricity to India and import up to 1,400 MW through two 400 kV cross-border transmission …

US Special Envoy Sergio Gor Holds Key Meetings in Nepal

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Kathmandu, May 1 (IANS) US Special Envoy for South and Central Asia, Sergio Gor began his political engagements on Friday by meeting Nepal’s Foreign Minister Sishir Khanal and Finance Minister Swarnim Wagle. Gor, who is also the US Ambassador to India, arrived in Kathmandu on Thursday evening and held meetings with Nepal’s government ministers on Friday. He is the highest-ranking US government official to visit Nepal since the new government led by Prime Minister Balendra Shah was formed on Ma…