Most awaited and one of the most prestigious scholarships program of Europe which also allows to gain double degree by within a single master's degree period.

Requirements
a. TOEFL/IELTS is must. (You are in safe side if you have GRE but it is not mandatory).
b. Good academic records.
c. Recommendation Letters.

Requirements are as per demand of the course. you can apply maximum program for an academic year choosing the suitable course.

http://ec.europa.eu/education/programmes/mundus/projects/index_en.html

Visit the above link and find the suitable course for you.

This year 27 Nepalese got this scholarship. This scholarship is not limited to engineering only. It ranges from human right to press education and even the education science.

Benefits will cover payment of 1500 to 2200 Euro per month depending upon the country and the course.