Grant agreement between Gandaki Institute of Technology and South Korean govt for infrastructure development

Kathmandu, Aug 20: The Gandaki Institute of Technology and the government of South Korea have signed a grant agreement worth Rs 1.25 billion for the development of infrastructure in the Gandaki Institute of Technology.     

The Institute is being operated under the Gandaki Technical Education and Vocational Training Academy (GTEVTA).     

Finance Secretary Ghanashyam Upadhyaya and South Korean Ambassador to Nepal, Park Tae-Young, signed the agreement here today representing the government of Nepal and the government of South Korea respectively.     

As per the agreement, the Korea International Cooperation Agency (KOICA) will serve as a project implementing agency on behalf of the South Korean government.     

Similarly, the Gandaki Province's Ministry of Social Development, Youth and Sports Ministry, and the GTEVTA will coordinated the implementation on behalf of the government of Nepal.     

During the signing of agreement, Finance Secretary Upadhyay shared that the project is expected to be accepted to be completed by December 31, 2030.     

According to him, the project aims to produce competent workforces capable of meeting national and international needs of the current era.     

The Project is also intended to develop Gandaki Province as a technical hub, strengthen vocational training programmes, enhance skills of teachers and students, and foster partnership with the industries and businesses, he explained.     

"The agreement signed today is expected to add a new dimension to the advancement of vocational and technical education in Nepal. I am hopeful that this Project would contribute to Nepal's socio-economic development by developing a skilled workforce that meets labour market demands and enhances employability," remarked the Finance Secretary.     

Likewise, South Korean Envoy to Nepal Tae-Young noted, "This project is not only an investment in buildings and facilities. It is an investment in people, in skills, and the future workforce of Nepal."     

He expressed his confidence that through this project, Nepal will strengthen its capacity to provide high-quality, industry-relevant technical education that meets the need of the 21st century's economy.(RSS)