November 24, 2020 | Investopaper
Rastriya Banijya Bank has provided grant assistance to various industries connected with equipment to save economical and effective energy. Under the grant assistance program of ‘Energy Efficiency Program Nepal’ run with the grant assistance received from the German government through KFW Bank, Premier Organics Pvt. Ltd. received Rs. 53,51,584 and Hulas Steel Industries Pvt. Ltd recevied Rs 33,15,600. Likewise, Rastriya Banijya Bank transferred Rs. 17,08,456 to Premier Steel Pvt. Ltd.
Handing over the check, Chief Executive Officer of the Bank, Kiran Kumar Shrestha called upon other industries to participate in the program by investing in energy saving.
As per the agreement reached between the Government of Nepal and the Government of Germany in 2010 to save the energy economically and efficiently in Nepal’s industrial and commercial sectors, Rastriya Banijya Bank has been providing assistance as Project Executing Agency (PEA) for the implementation of ‘Energy Efficiency Program Nepal’.
Under this project, large, small and medium enterprises and firms operating in Nepal will be provided 15 to 39 percent grant of the total German aid through Rastriya Banijya Bank. If any business invests in the equipment in a way that saves energy economically and effectively, it will be possible to apply for the assistance amount up to a maximum of Rs. 1 crores within the approved grant procedure.