Kathmandu, Aug. 14 -- Millennium Challenge Account- Nepal (MCA-Nepal) on Thursday signed two contracts under the MCC Nepal Compact worth USD 154.5 million for the electricity transmission project in the Himalayan nation.

The agreement follows "the successful completion of the foreign aid review," the MCA- Nepal announced in a release.

"Today, the Millennium Challenge Account-Nepal (MCA-Nepal) signed two major contracts to advance the compact's Electricity Transmission Project, jointly funded by the governments of Nepal and the United States. The milestone signals both governments' commitment to delivering on one of Nepal's most transformative infrastructure partnerships," the release added.

As per the release, contracts for the constru...