Japan provides Rs 3.35M grant aid to FNCCI

BY A STAFF REPORTER

Kathmandu, Oct. 2: The Embassy of Japan has decided to extend grant assistance to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) for the implementation of the Project for the establishment of a Human Resource Development Centre for Management and Administration in Kathmandu during Japan’s FY 2001, under the Great Assistance for Grassroots Development Projects (GGP) scheme of the Government of Japan, according to a press release issued here by the Embassy of Japan.

Mitsuaki Kojima, Ambassador of Japan to Nepal, Mr Rivi Bhakta Shrestha, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), signed a grant contract here yesterday.

Under this grant, the Embassy of Japan will provide US$ 45,490 (approximately Rs 3,350,416) to implement the project. This amount will cover the costs of procuring equipment for the implementation of the project. The FNCCI will bear the operating and maintenance costs of the Centre as well as additional expenses required for project implementation, the press release adds.

The Human Resource Development Centre for Management and Administration is being established under the initiative of the FNCCI in order to overcome shortages of technical and managerial manpower in different fields and a different levels of the national economy. The private sector plays a vital role in realising a self-sustaining economy for Nepal, and human resource development is a key element in invigorating that sector. Most of the business organisations in the country have been facing insurmountable difficulties in carrying out training to develop their human resources due to the lack of capital and expertise. In light of this situation, the Centre is expected to greatly enhance the development of managerial expertise and knowledge in the private sector, and to be a major contribution to the sustainable development of the national economy.

During the signing ceremony, Kojima expressed his pleasure in extending this cooperation of the FNCCI for the purpose of facilitating human resources development in this country. In addition, he expressed his hope that the private sector will build up their international competitiveness in order to make inroads into the global market, and would make a substantial contribution to the sustainable development of the nation’s economy in the years to come.