Businesses receive Rs 6.76 crore as subsidy return for their energy-efficient operation so far; Banijya Bank makes payment on behalf of Energy Efficiency Program Nepal funded by German Government

Rastriya Banijya Bank has granted subsidy to different industries and businesses for their energy efficient operation under the Energy Efficiency Program Nepal funded by the German Government.

The government owned bank handed over the subsidy amount of Rs1 crore  to Pashupati Iron and Steel, Rs 52.34 lakh to Bottlers Nepal, Rs 43.35 lakh to Bagmati Oil Industries, Rs 7.34 lakh to Himal Iron and Steel, Rs 2.40 lakh to East Asian Plastic Industries.

The cheque amount for the subsidy was handed over by CEO of the bank Mr. Kiran Kumar Shrestha amid a program, as per the media statement.

The program has been in place in Nepal since 2010 under the funding of German government where the big and small industries that install energy efficient and less polluting machinery for their production line will be eligible to receive 15%to 39% of their total investment as subsidy return, the total amount not exceeding Rs 1 crore.

The bank has so far handed over Rs 6.74 crore to 17 different energy efficient industries under this scheme, as per the media statement.