Korea to Invest $9.8 Million in Green Jobs Creation in Pokhara ➤ Nep123.com

Korea to Invest $9.8 Million in Green Jobs Creation in Pokhara

Collaboration Between Korean Government and Nepal to Foster Sustainable Economic Practices

In a significant move towards sustainable development, the Korean government has pledged a generous assistance of $9.8 million for the creation of green jobs in Pokhara, Nepal. The Memorandum of Understanding (MoU) for the project titled ‘Green Job Creation through Recycling and Up-cycling Project’ was signed by Ambassador Taeyoung Park and Finance Secretary Madhu Kumar Marasini, signaling a new chapter in bilateral cooperation.

The assistance, facilitated through the Korea International Cooperation Agency (KOICA), underscores Korea’s commitment to supporting Nepal’s efforts in environmental conservation and economic growth. The project, to be implemented by the United Nations Development Programme (UNDP) in collaboration with the Ministry of Federal Affairs and General Administration and Pokhara Metropolitan City, aims to establish sustainable recycling and up-cycling enterprises.

At the heart of the initiative lies the establishment of a Green Venture Zone (GVZ), envisioned as a hub for innovation and entrepreneurship in green practices. The GVZ will not only showcase products made from recycled materials but also serve as a platform for national and international events focusing on environmental sustainability.

Secretary Marasini expressed gratitude towards the Korean government for the partnership, emphasizing its potential to strengthen the friendly ties between the two nations. Ambassador Park, echoing similar sentiments, highlighted the project’s capacity to equip unemployed individuals with valuable skills, enabling them to establish green ventures and contribute to Nepal’s economic advancement.

This collaboration builds upon the longstanding relationship between Korea and Nepal, with KOICA’s support spanning various sectors including health, vocational training, rural development, and IT since 1991. By 2023, KOICA’s total assistance to Nepal had exceeded two hundred million US Dollars, demonstrating a shared commitment to fostering sustainable development and prosperity.