Nepal, Korea Sign USD 9 Million Grant Agreement for Gandaki Institute of Technology

Kathmandu: The Government of Nepal and the Government of the Republic of Korea have signed a grant agreement worth USD 9 million, equivalent to NPR 1.25 Arba, for the implementation of the Infrastructure Development of Gandaki Institute of Technology under the Gandaki Technical Education and Vocational Training Academy (GTEVTA).

The agreement was signed by Finance Secretary Ghanshyam Upadhyaya on behalf of the Government of Nepal and Ambassador of the Republic of Korea to Nepal, PARK Tae-Young, on behalf of the Korean Government.

The Korea International Cooperation Agency (KOICA) will serve as the implementing agency for Korea, while on Nepal’s side, the Ministry of Social Development, Youth and Sports of Gandaki Province, along with GTEVTA, will carry out the project. The initiative is scheduled for completion by December 31, 2030.

According to the Press Release, the project aims to produce a competent workforce capable of meeting both domestic and global demands in line with Nepal’s Technical and Vocational Education and Training (TVET) policy and the 16th periodic plan. It will aims to establish Gandaki Province as a technical hub by strengthening TVET programs, upgrading the skills of teachers and students, and promoting collaboration with industries and communities.

“This project is not only an investment in buildings and facilities, it is an investment in people, in skills, and in the future workforce of Nepal. Through this project, we aim to strengthen Nepal’s capacity to provide high-quality, industry-relevant technical education that meets the needs of the 21st-century economy,” said Ambassador PARK Tae-Young.

Finance Secretary Upadhyaya remarked, “Korea has long supported Nepal’s education sector, and this agreement signifies a renewed and strengthened commitment to the advancement of TVET in Nepal. I am hopeful that this initiative will contribute to Nepal’s socio-economic growth by developing a skilled workforce that meets labor market demands and enhances employability.”