KATHMANDU, AUGUST 7
The Korea International Cooperation Agency (KOICA) has brought entrepreneurs, investors, financial institutions, government agencies and development partners together under an initiative aimed at strengthening Nepal’s entrepreneurship ecosystem.
KOICA organised the ‘K-Connect: Promoting the Entrepreneurship Ecosystem in Nepal’ event in Kathmandu on Thursday. Korean Ambassador to Nepal Park Tae-Young attended the event as chief guest, while Joint Secretary Hem Raj Tamang of the Ministry of Youth, Labour and Employment and Joint Secretary Navaraj Dhakal of the Office of the Prime Minister and Council of Ministers were special guests.
The event brought together beneficiaries of three KOICA-supported projects, government officials, investors, financial institutions, mentors and development partners. It sought to improve entrepreneurs’ access to knowledge, networks and financing while promoting innovation, business growth and job creation.
Under the Korea Returnee Migrants Reintegration (K-HaMi) Project, more than 15,000 returnee migrant workers have received technical, reintegration and financial literacy training, with 195 receiving dedicated entrepreneurship training. KOICA is also providing $2.5 million in interest subsidies to facilitate loans for Nepali workers returning from South Korea, with around 300 returnees expected to benefit.
The Climate Smart Agriculture (CSA) Project has established 109 climate-smart agribusinesses in the Terai flood plains, supported more than 5,300 beneficiaries through entrepreneurship grants and training, and created 343 green jobs. KOICA has provided $1.5 million to the Terai Agribusiness and Enterprise Challenge Fund under the project.
Similarly, the Green Job Creation through Recycling and Upcycling (GCRU) Project in Pokhara has supported the development of 115 recycling and upcycling enterprises, trained nearly 11,000 households in waste management and provided entrepreneurship training to more than 1,300 people.
Addressing the event, Ambassador Park said South Korea’s development had been driven by investment in people, stronger institutions and opportunities for innovation, entrepreneurship and private-sector growth.
The programme included beneficiary success stories, business pitching sessions and one-to-one consultations between entrepreneurs, potential investors and business mentors.
KOICA said it has provided $235 million in development assistance to Nepal since 1991, supporting sectors including health, education, agriculture, vocational training, rural development, information technology and tourism.