Europe to provide aid for Nepal's energy project
The European Commission (EC) has agreed to provide a grant assistance of EUR 15 mm ($ 16.25 mm) to Nepal for the
development of a photovoltaic solar system through the implementation of the renewable energy project in the
country.
The total cost of the project is equivalent to EUR 15.67 mm ($ 16.98 mm), out of which EUR 675,000 ($ 731,430)
equivalent will be covered by the Nepali government.
The duration of the project is 5 years starting in 2003. The main objective of the project is to create a renewable
energy infrastructure in the country's rural areas, which facilitates income generation, sustainable growth and
delivery of social services, ultimately contributing to poverty alleviation in those areas.
The project will mainly cover the rural areas of the country where neither national grid connections within the next
five years is expected nor is there possibility of micro hydro projects.
