Civil Bank, Next Capital Venture join hands; collaboration for energy development to reduce load shedding

ShareSansar, October 29:

Civil Bank Limited and Next Capital Venture has entered into a collaboration agreement for the development of energy.

Civil Bank’s Chief Executive Officer Kishore Maharjan and Chairman of Next Capital Suman Neupane signed a collaboration agreement amid a ceremony held on Tuesday.

According to the arrangement, Civil Bank will carry out a detailed financial analysis to check the viability and creditworthiness of the energy projects proposed by Next Capital Venture.

The bank will also facilitate the equity collection process by maintaining an ESCROW Account for the viable projects and also encourage the potential investors for the equity investment in such viable projects wherein Civil Bank will have preferential rights to finance.

“We have signed this agreement in an effort to contribute, in whatever small way possible, towards the reduction of the adverse effects on the lives of Nepali denizens due to power shortage” said Kishore Maharjan, CEO of the Bank.

He further added that such collaborative arrangement shall also give plenty of confidence to potential equity investors encouraging them to invest in various energy-related projects with Civil Bank.

Likewise, NCV Chairman Suman Neupane said that the objective of this collaboration was to develop energy projects in Nepal in partnership with small and medium investors working aboard and in Nepal so that load shedding issue could be addressed and local jobs could be created.