ADB to provide over Rs 2 billion grant aid from Climate Fund


    Kathmandu, Dec 9 : The Asian Development Bank (ADB) is to provide grant assistance of more than two billion rupees for generating 25 megawatts solar power.

    ADB has declared to provide the amount from the Climate Fund for the promotion of solar energy in view of energy needs and demand.

    Organising a news conference here thursday, the ADB stated that the grant would be provided to the power developers concerned through Nepal Electricity Authority with the objective of generating 25 megawatts power by 2018.

    ADB country director for Nepal, Kenichi Yokoyama said that the decision to provide the grant assistance from the Climate Fund has been made to promote and encourage the private sector participation in solar energy production.

    Source: The Karobar Daily