Elon Musk’s DOGE swiped $329 million in humanitarian funding from Nepal, leaving a Gen Z tech revolution to transform the budding country’s economy
After the Trump administration gutted USAID, Nepal’s private sector has stepped up to energize its young workforce and strengthen its financial independence.
Elon Musk’s Department of Government Efficiency (DOGE) has slashed $329 million in humanitarian aid to Nepal, causing widespread concern. Stuti Basnyet, former USAID program office director for Nepal, describes the initial denial and grievance as the country grappled with the cuts. These cuts have led to an estimated 30,000 direct job losses.
Nepal's educational opportunities, including early grade reading support, teacher training, and educational materials, were also affected. Despite these setbacks, Nepal's private sector is stepping up to rebuild the economy. With a youthful population and abundant natural resources like hydropower, the country is making strides in economic development.
Young Nepalis, particularly Gen Z, are leading protests and driving change, with some co-founding strategic advisory firms like Aadyanta Advisory. This firm has helped nearly 400 young innovators and jumpstarted the nation's industrial push. Nepal's tech hub, Pukar Hamal of SecurityPal, refers to Kathmandu as "Silicon Peaks." With over 6,000 rivers and streams, Nepal can run on 99% hydropower, which is currently underutilized.
The country's move towards a tech-driven economy, supported by U.S. companies and partnerships, offers hope for a brighter future.
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