The agreement provides KU a grant of approximately 45 million to KU for the conservation and economic development of Churia region of Nepal. The grant will be utilized to explore the status of bamboo diversity in the region and restore bamboo species in their natural habitat. Similarly, degraded land will be restored through the cultivation of Paulownia and bamboos. It has been aimed that communities in the region will be strengthened through commercial use of Paulownia and bamboo-based products. Ultimately, market linkages for community products from Paulownia and bamboo will be established in Nepal and abroad. 

The signing took place amid a gathering of important personalities from KU and the Development Board. Prof. Dr. Ram Kantha Makaju Shrestha, Vice Chancellor; Prof. Dr. Bhola Thapa, Registrar; Prof. Dr. Sanjay Nath Khanal, Controller of Examinations; Prof. Dr. Deepak P. Subedi, Prof. Dr. Ramesh K. Maskey, Prof. Dr. Bim P. Shrestha, Dr. Bal C. Luitel, Associate Deans; Prof. Dr. Tika B. Karki, Prof. Dr. Jyoti Upadhyaya, Dr. Rajani Shakya, Prof. Dr. Janardan Lamichhane, Dr. Dhurva Gauchan and Dr. Nirajan Bhusal attended the program on behalf of KU. Mr. Rameshwor Khanal, Chairperson; Dr. Nagendra P. Yadav and Mr. Phurpa Tamang, Members; Mr. Prem Paudel, Section Chief (Under Secretary) for Research, Science and Technology Development, and some administrative staffs represented the Development Board.