The United States Agency for International Development has pledged $2 million in aid to Nepal to support the stabilisation of the economy, promote job and wage growth, mobilise investment, and deliver democratic dividends.

The announcement was made during the ‘Democracy Delivers’ event on the sidelines of the UN General Assembly on Wednesday, the US Embassy in Kathmandu said in a statement issued on Thursday.

Through USAID’s Partnerships for Democratic Development, USAID Nepal recently received $6.9 million to provide flexible, multi-year funding to deepen its partnership with Nepal’s democratic reformers and support their efforts to assemble stakeholders from across society to advance fundamental reforms.

“The additional resources will be invested to align with Nepal’s ongoing effort to strengthen local governance and improve the delivery of public services to its citizens,” said Karen Welch, acting mission director of USAID Nepal.

During the event, US Secretary of State Antony Blinken and USAID Administrator Samantha Power, in partnership with the Ford Foundation and the Rockefeller Foundation, convened philanthropic and private sector partners to invest in Nepal and other countries experiencing democratic openings.

Prime Minister Pushpa Kamal Dahal joined the event alongside leadership from the first cohort of countries supported by USAID’s Democracy Delivers Initiative, according to the statement.