Kathmandu. KATHMANDU: The European Union (EU) has agreed to give continuity to Nepal’s support in clean and green energy.
According to the Ministry of Finance, an agreement in this regard was reached during the meeting of the Commission on Development Cooperation between Nepal and the European Union held in Brussels, Belgium on Thursday. The meeting reviewed the European Union’s ongoing development assistance plans and ongoing programmes and projects in Nepal. ’
In the meeting, it was expected that Nepal would get additional support from the European Union in the energy sector and the EU would get grant assistance in the Dudhkoshi storage hydropower project. “The European Union has expressed its commitment to provide grant assistance for the Dudhkoshi hydropower project and suggested that Nepal use new financial instruments such as composite finance and guarantees to meet the investment needs,” the statement reads. The Nepali side expected further cooperation from the European Union in the development of the private sector and the promotion of foreign investment as the current political situation in Nepal was oriented towards the election and the overall indicators of the economy were favourable. ’
The Nepali delegation was led by Joint Secretary at the International Economic Cooperation Relations Division at the Ministry of Finance Dr Dhaniram Sharma and the European delegation was led by Mario Ronconi, chief of the South Asia Unit on International Cooperation.
