KATHMANDU, Dec 2: The government is providing subsidized loans to the poor and deprived community people to invest in shares of hydropower projects.
Speaking at a press meet on Monday, Minister for Energy, Water Resources and Irrigation Deepak Khadka said the government will be providing such facilities to people living in extreme poverty and marginalized groups under the program ‘Janatako Jalavidhyut Karyakram.’
The government launched the program in March, 2018. Through the program, the government has targeted to construct 3,500 MW hydropower projects with investment from Nepali citizens.
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For the prescribed projects, the government has aimed to generate 49 percent of the equity capital from the citizens while simplifying the procedures on issuance of primary shares. As of now, the government has forwarded a total of 22 hydropower projects under the program.
According to Minister Khadka, the government has recently amended the work procedures of the program to facilitate inclusion of local people to a larger extent. “The initiative could help mobilize internal capital while ensuring reasonable returns to the people from targeted groups.”
The revised rule talks about providing credit between Rs 200,000 and Rs 500,000 at subsidized interest rate, depending on the nature of the proposed hydropower projects. “In the initial phase, the program will facilitate these people from local communities, which will then be expanded to similar people from across the country,” said Khadka.
According to him, the government is starting the package through the investment on 1,200 MW Budhi Gandaki Hydropower Project and 1,061 MW Upper Arun Hydroelectric Project.
