Civil Bank to invest in alternative energy

KATHMANDU, Jan 30:

Civil Bank has said that it is all set to mobilize its outreach into the energy sector. Issuing a statement, the bank said it was collaborating with the Alternative Energy Promotion Center (AEPC) in order to enhance the country´s investment into the energy sector.

 "The bank shall offer loans at reasonable interest rates to customers in local areas for the promotion of alternative energy" Kishore Maharjan, CEO of Civil Bank, said in the statement. Maharjan and Prithvi Gyawali, head of Central Renewable Energy Fund Secretariat, signed the agreement in this regard amid a function on Wednesday.

 "Loans will be invested in areas such as solar, biogas, improved stoves and micro-hydro projects. The contribution made by Civil Bank in the alternative energy sector will help toward reducing load-shedding hours in the country to a certain extent," the statement added.

Source: Republica