Ten industries receive support under REEEP-GREEN project, promoting sustainable and energy-efficient practices in Nepal’s industrial sector
In a major step toward fostering sustainable industrial development, Rastriya Banijya Bank Limited (RBBL) has disbursed the first round of financial grants to industries that have adopted energy efficiency measures. The grant disbursement event took place on July 17 at RBBL’s head office in Kathmandu.
A total of 10 industries received grants amounting to approximately NPR 29 million after implementing energy-saving measures based on detailed energy audits. These initiatives are expected to yield around 36,788 MWh of energy savings over their lifetime, directly contributing to Nepal’s climate action goals and the transition toward sustainable industrial growth.
About the Grant Scheme
The grant program is part of the Renewable Energy and Energy Efficiency Programme – Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN), jointly financed by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ).
Managed by RBBL, this initiative targets industries with significant energy-saving potential and supports them in implementing recommendations identified through certified energy audits. The scheme offers partial grant coverage of investment costs, aiming to encourage:
- Adoption of energy-efficient technologies
- Decent work practices
- Compliance with environmental regulations
Launch of the REEEP-GREEN Grant Facility
This first disbursement marks the official rollout of the REEEP-GREEN grant facility. It sets the foundation for the wider adoption of cleaner and more efficient industrial technologies in Nepal.
Speaking at the event, Mr. Devendra Raman Khanal, CEO of RBBL, reiterated the bank’s commitment to sustainable finance and a green economy.
The event was also attended by:
- Mr. Rudra Khanal, Director of the Alternative Energy Promotion Center
- Delegates from the European Union, German Embassy, and GIZ Nepal
- Energy consultants, industrialists, and private sector associations
Supporting National Sustainability Goals
This financing initiative complements Nepal’s broader national agenda of:
- Promoting sustainable industrialization
- Integrating circular economy principles
- Adhering to environmental standards
- Fostering decent work environments
The measurable benefits from this first round of grants will serve as proof of concept, paving the way for loan-based and blended financing models in the future. This is expected to encourage more industries to invest in energy efficiency and support Nepal’s green development goals.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
