The Government of Norway has agreed to provide a grant assistance of Rs 2.34 billion for the implementation of National Rural and Renewable Energy Program (NRREP).
Ministry of Environment, Science and Technology is the executive agency and Alternative Energy Promotion Center (AEPC) is the implementation agency of this program.
The objective of the program is to improve the living standards of the rural women and men, increase employment of women and men as well as productivity, reduce dependency on traditional energy and attain sustainable development by integrating alternative energy with the socio-economic activities of women and men in rural communities.
At a program organized at the Ministry of Finance on Wednesday, Secretary at the Ministry of Finance, Krishna Hari Banskota, and Norwegian Ambassador to Nepal, Alf Arne Ramslien, signed the agreement paper.
The NRREP is designed in a single modality approach with three components- Central Renewable Energy Fund (CREF), Technical Support and Business Development for Renewable Energy and Productive Energy Use. The program will be implemented until July 15, 2017.
It is said that the total budget of NRREP is 184 million US dollars and the rest of the amount will be provided by other donor agencies.
The Government of Nepal has expressed its sincere appreciation to the Government of Norway for this assistance and continued support to the socio-economic development of Nepal.