Millennium Challenge Account Nepal (MCA Nepal), a special purpose vehicle formed to implement projects under the Millennium Challenge Corporation (MCC) Nepal Compact, has commenced construction of the 400 kV Ratmate and New Damauli substations, and a 297-km transmission line network under the Electricity Transmission Project.
The project is being jointly financed through a USD550 million grant from the US through the MCC and a USD197 million contribution from the Government of Nepal.