Jan 16, 2017

on. Finance Minister Dr. Ram Sharan Mahat unveiled Development Cooperation Policy (DCP) 2014 on 27 June 2014 amidst a function organized at the Ministry of Finance.

Hon. Finance Minister Dr. Ram Sharan Mahat unveiled Development Cooperation Policy (DCP) 2014 on 27 June 2014 amidst a function organized at the Ministry of Finance.

While delivering his remarks after unveiling the policy Hon. Minister Dr. Mahat briefl y highlighted the main features of the policy. Hon. Minister revealed that DCP 2014 would replace the Foreign Aid Policy 2002 after 12 years. Hon. Minister mentioned that some of the basic concepts of foreign aid policy are defi ned in a new way in the DCP. Hon. Minister further added that the policy was prepared in a home grown approach rather than donor driven. The new policy terms foreign aid as development cooperation and donors as development partners.

Some of the features of DCP 2014 as Hon. Minister mentioned are - helping Nepal to graduate from least Development Cooperation Policy 2014 Unveiled developed country (LDC) to developing country (DC) by 2022; provision of development cooperation under national budgetary system; help creating self-sustaining economy; promoting private sector investment; increase in transparency and accountability in development cooperation management through Aid Management Platform (AMP), use of grants in social sectors and concessional loan in infrastructures and no acceptance of commercial loan, provision of reduction in aid fragmentation using threshold in acceptance of grants (limit 5 million USD), concessional loan (limit 10 million USD) and other loan (20 million USD), pool funding for development partners with small amount of cooperation, development cooperation coordination mechanism etc.

In the program, Finance Secretary Mr. Yuba Raj Bhusal thanked all the staffs of International Economic Cooperation Coordination Division (IECCD) for the preparation of the DCP. He also thanked development partners for providing suggestions in the preparation phase of DCP and the media persons for covering the news. The program was hosted by IECCD chief Mr. Madhu Kumar Marasini. Mr. Marasini while delivering his remarks pointed out the coincidence that the Foreign Aid Policy 2002 and DCP 2014 both were prepared and launched at Hon. Minister Dr. Mahat’s tenure as Finance Minister.