Kathmandu. A memorandum of understanding (MoU) has been signed between Kumari Bank Limited and Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH (GIZ Nepal) under the Sustainable Electric Transport for Nepal (SET4NPL) project to strengthen electric mobility in Nepal.
The understanding will support targeted financial mechanisms and digital innovation to accelerate the adoption and operation of electric public transport vehicles—especially electric micro and minibuses—while providing cost-effective financial access to public transport operators.
SET4NPL project is a joint initiative of GIZ Nepal Global Green Growth Institute (GGGI) in collaboration with the government and relevant partners, including the Ministry of Physical Infrastructure and Transport.
The project is funded by the Mitigation Action Facility (MAF) and the program aims to deploy approximately 3,500 electric minibuses and contribute to making Nepal’s public transportation system cleaner, greener and more sustainable.
Keeping in mind the economic constraints, the initiative aims to transform vehicles based on conventional fuels into electric vehicles. SET4NPL Digital features such as mobile applications, GPS devices, LED route display and open loop e-ticketing system are also being used in the project to make public transportation easier, safer and smarter.
This collaboration will facilitate the public transport business to use electric micro and minibuses. For this, Kumari Bank will arrange a special financial scheme (loan package) and initial down payment grant (subsidy) to reduce the cost of vehicle purchase and make it financially easier.
The bank has been rendering banking services for the last 24 years through a network of 302 branches, 50 extension counters, 48 branchless banking units and 317 ATMs across the country
