Rastriya Banijya Bank Limited (RBBL) Disburses First Round of Financial Grants to Energy-Efficient Industries

Strategic Insights -

Rastriya Banijya Bank Limited (RBBL) has successfully disbursed the first round of financial grants to 10 industries that have implemented key energy-saving measures identified through energy audits. The disbursement event, held on July 17 at RBBL's office in Kathmandu, marked the formal rollout of the Renewable Energy and Energy Efficiency Programme- Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN) grant facility. The grant scheme, part of the REEEP-GREEN project jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ), offers partial grant coverage of total investment costs and prioritizes energy efficiency, decent work practices, and environmental compliance.

Key Takeaways:

  • The RBBL has disbursed NPR 29 million (approx.) in the first round of financial grants to 10 energy-efficient industries.
  • The grants support industries with significant energy-saving potential, promoting green growth and livelihood improvements across the country.
  • The scheme offers partial grant coverage of total investment costs and prioritizes energy efficiency, decent work practices, and environmental compliance.
  • The REEEP-GREEN project is jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ).
  • The initiative aims to encourage industries to adopt cleaner and more efficient technologies, in line with broader national objectives to promote sustainable industrial practices.
  • The benefits realized from the grant-supported measures will serve as a demonstration of concept to develop business cases for loan and blended financing supported interventions in the public and private sector.

Statistics:

  • NPR 29 million (approx.) disbursed to 10 energy-efficient industries in the first round of grants.
  • 36,788 MWh of annual energy savings expected over the lifetime of the projects.
  • Marking the formal rollout of the REEEP-GREEN grant facility.
  • The REEEP-GREEN project is jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ).

Sources:

  • Rastriya Banijya Bank Limited (RBBL) press release.
  • REEEP-GREEN project documentation.
  • European Union.
  • German Federal Ministry for Economic Cooperation and Development (BMZ).