KATHMANDU: The government of South Korea has pledged assistance amounting to 9.8 million US Dollars for the establishment of green jobs in Pokhara. A memorandum of understanding (MoU) for the project titled 'Green Job Creation through Recycling and Up-cycling Project in Pokhara Metropolitan City (PMC)' was formalized during a ceremony held at the Ministry of Finance. Ambassador of Korea to Nepal, Taeyoung Park, and Finance Secretary, Madhu Kumar Marasini, were the signatories to the MoU.

Through the Korea International Cooperation Agency (KOICA), the Korean government will fund the project, which will be executed by the United Nations Development Programme (UNDP) in Pokhara. The initiative will be carried out in close collaboration with the Ministry of Federal Affairs and General Administration (MoFAGA) and Pokhara Metropolitan City.

The key aim of the project is to develop sustainable recycling and upcycling ventures to encourage environmentally friendly economic practices. A key aspect of the initiative is the creation of a Green Venture Zone (GVZ), a cutting-edge facility designed to promote recycling, up-cycling, innovation, and entrepreneurship. The GVZ will showcase products made from recycled materials and host national and international events focused on environmental themes.

Secretary Marasini expressed appreciation for the partnership with the Korean government, emphasizing its potential to strengthen the friendly relations between the two nations. Ambassador Park highlighted the opportunities presented by the project, noting its potential to equip unemployed individuals with valuable skills, establish green businesses, and contribute to the country's economic development.

Furthermore, Ambassador Park underscored the project's role in raising awareness among communities about proper waste management practices. Furthermore, the ceremony honored the 50th anniversary of diplomatic relations between Nepal and Korea. Ambassador Park emphasized the shared interests and priorities of the two countries, affirming Nepal's status as a priority country for South Korea's development cooperation efforts. He pledged to further enhance cooperation and strengthen the friendly ties between the two nations. South Korea has been supporting Nepal through KOICA in various sectors, including health, vocational training, rural development, and IT, since 1991, with the total support exceeding two hundred million US Dollars by 2023.