What does 11-point Descriptive Notes about MCC Say

February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures.

During the announcement, the ruling parties stated that the MCC compact, upon its endorsement, would not be regarded as an agreement having link to any strategic or military alliance including the US Indo-Pacific Strategy.

According to the explanatory notes, the auditing of MCC would be conducted by the Office of Auditor General; the intellectual property gained from the project would be of Nepal; no agreement would be above the Constitution of Nepal; and the project would be directed as per Nepal's constitution.

The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar.

In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant.

Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant.

Likewise, in regard to section 3.2 (b) of the MCC compact, the 11-point notes issued by the political parties has made it clear that the activities to be run from the MCC compact Nepal Development Committee shall be guided by the laws of Nepal. The MCC would not have ownership in the intellectual property right while Nepal will own the entire intellectual property rights and Nepal will fully utilise this.

The descriptive notes also states that the Constitution of Nepal shall prevail over the compact and implementation of the programmes under this project would be carried out as per the laws of Nepal and the compact. All the movable and immovable properties and land plots of the projects would remain under the ownership of the Government of Nepal and its line agencies, the notes further mentioned. -- RSS

The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar.

In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant.

Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant.