Germany to provide Rs 1.4 billion grant to Nepal for green development

March 26, Kathmandu: The German government has agreed to provide grant assistance of Rs. 1.4 billion to foster green recovery and inclusive development in Nepal.

Joint Secretary of the Ministry of Finance Shreekrishna Nepal and German Ambassador to Nepal Roland Schaefer signed financial and technical cooperation agreements on behalf of their respective governments on Thursday.

This new initiative will support the private and public sector to expand grid-connected solar farms, solar irrigation and industrial rooftop solar in semi-urban areas for inclusive economic growth.

In remote areas, the initiative aims at promoting isolated solar mini-grids providing reliable and clean electricity to the rural population.