Japanese government has approved Rs. 50 million for the implementation of the project for transportation of food rains to remote area of Nepal. The fund was approved as the Counterpart Fund under the Food Aid (KR).
The project was approved in order to counter the existing food deficit problem in Nepal, particularly in the remote hilly and mountain districts, due to the low productivity of agriculture, said a press release issued by Japanese embassy.
Under this project, Nepal Food Corporation (NFC) will deliver an additional 1,430 metric tons of rice to eighteen remote hilly and mountain districts in addition to NFC’s annual program of delivering about 7,500 metric tons of rice.
The Counterpart Fund was established through the financial assistance extended by the Government of Japan under the Food Aid (KR). The Government of Nepal has procured rice through this assistance and sold it in the domestic market. The amount collected from selling the rice was deposited as a Counterpart Fund. The Fund can be utilized for implementing various social and economic development projects through consultation between the two governments, said the release.
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