The Government of Japan has approved the utilization of the counterpart fund of NRs. 286,021,000 for the implementation nine projects, on the request made by His Majesty’s Government of Nepal.

A press statement issued by the Japanese Embassy in Kathmandu said the Government of Japan has approved seven projects in the agriculture sector. The projects will be implemented by various agencies under the Ministry of Agriculture and Cooperatives.

Likewise, it has approved one project each in irrigation and in forestry sectors to be implemented by the Ministry of Forestry and Soil Conservation and Ministry of Water Resource respectively.

“Japan has extended assistance in the field of watershed management around the Pokhara area through a participatory approach,” the statement said.

“The counterpart fund was established through the financial assistance extended by the Government of Japan to increase agriculture production under KR2. His Majesty’s Government of Nepal has procured fertilizer through this assistance, and sold it in the domestic market. The amount collected from selling the fertilizer 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,” the statement adds.