KATHMANDU: Rastriya Banijya Bank Limited has distributed financial grants to 10 industries that have adopted energy efficiency measures.
In a program held at the bank’s office in Kathmandu today, grants totaling approximately Rs. 29 million were awarded in the first phase to industries that implemented key energy-saving strategies identified through energy audits.
These energy efficiency measures are projected to save approximately 36,788 megawatt-hours of electricity annually over the long term. The savings are expected to contribute significantly to Nepal’s climate commitments and the advancement of sustainable industrial development.
The grant initiative is part of the Renewable Energy and Energy Efficiency Programme – Recovery and Empowerment through Sustainable Energy in Nepal, which is co-financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ).
The program aims to encourage industries with high energy-saving potential to adopt more efficient practices.
As part of the program, a portion of the investment cost is provided as a grant to support the implementation of recommendations made by local energy auditors. The initiative prioritizes energy efficiency, adherence to decent labor practices, and compliance with environmental standards.
With the distribution of this first phase of grants, the RIP-Green Grant Facility has been officially launched. It is expected to promote the adoption of clean and efficient technologies in Nepal’s industrial sector.
Speaking at the event, the bank’s Chief Executive Officer, Devendra Raman Khanal, described the grant mechanism as a significant milestone in advancing sustainable industrial practices in Nepal. He also reaffirmed the bank’s commitment to a sustainable financial system and a green economy.
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