Memorandum of Understanding Signing Ceremony for the TTC at Kathmandu University(KU)

Ministry of Foreign Affairs and Trade of the Republic of Korea and the Ministry of Finance of the Government of Nepal signed the Memorandum of Understanding for ‘Establishment of Technical Training Center at Kathmandu University’ at MOF, Singha Durbar. The MOU was signed by H.E. IL Doo Kim, Korean Ambassador to Nepal and Mr. Krishna Hari Banskota, Secretary of the Ministry of Finance.

Korean Government through KOICA will spend 3.5 million USD for implementing the TTC project. The project cost basically comprises of three components, namely infrastructure, equipment & machineries and human resource development. Initially four buildings each for automobile, general mechanical, girl’s hostel and boy’s hostel will be constructed under infrastructure at KU central campus, Dhulikhel. Equipment and machinery for training and demonstration purpose will also be procured. The existing human resource at Kathmandu University will be further trained to suit as per the need of program under human resource development program, which ultimately be responsible for running the center. The objective of this project is to produce skilled and technical workforce that is capable of adaptation of the changing technology as per the need of the industrial and labor market. The project will provide skill oriented training program to the local under privileged youths and equip future professionals with the required practical knowledge for the development of the Automobile and Mechanical sector in Nepal

The TTC at Kathmandu University project of KOICA for 2011 out of 4 country specific project for this year. Nepal is now a priority country for KOICA, hence KOICA assistance in Nepal will increase significantly in days to come.