By Our Reporter
South Korea has agreed to support Nepal in the reconstruction of the ancient settlements in the Kathmandu Valley and development of smart cities.
National Reconstruction Authority (NRA) and Kathmandu Valley Development Authority (KVDA), and Seoul Housing and Community Corporation (SHCC) of Korea signed a Memorandum of Understanding (MoU) to reconstruct traditional settlements in Sankhu, Bungamati and Khokana and create smart cities around those areas.
The MoU were signed during Korea visit of the Chief Executive Officer of National Reconstruction Authority Sushil Gyawali last week.
As per the MoU, in the first phase, the SHCC will provide technical support to create master plan for the reconstruction and development of Sankhu, Bungmati and Khokana and prepare Detail Project Report (DPR) of various projects around these settlements.
Investment to implement the project will be mobilised through the Korean government and private sector on the basis of the project proposal, said the NRA.
The SHCC will also extend its support to the institutional capacity building of the NRA and KVDA on the development of smart cities.
Chief Executive Officer of the NRA Gywali said that the MoU would be a milestone in the preservation of the traditional heritage settlements and new cities development.