Muktinath Bikas Bank and Build up Nepal Engineering signs MOU for financing compressed established Earth Brick (CSEB) enterprises in Rural Nepal   

Muktinath Bikas Bank Ltd. and Build up Nepal Engineering Pvt. Ltd. signed a Memorandum of Understanding (MOU) for financing the compressed established Earth Brick (CSEB) enterprises in Rural Areas in Nepal.

Mr. Pradyuman Pokharel, Chief Executive Officer, Muktinath Bikas Bank Ltd; Mr. Tara Manandhar, DCEO, Muktinath Bank Ltd. and Mr. Bjorn Soderberg, Managing Director, Build Up Nepal Engineering Pvt. Ltd. were present during the MOU signing.

Build up Nepal Engineering (BUNE), with a team of engineers, business developers, social entrepreneurs and builders is dedicated to promoting environment friendly technology. It started its journey in Nepal as a partner in Reconstruction to NGOs and entrepreneurs. It is currently implementing a pilot project which has adopted an ecosystem approach for the sustainable promotion of CSEB enterprises. Improving the access of the entrepreneurs to formal financing mechanism is an important element of the pilot.

The agreement has paved the way for project-based financing for rural entrepreneurs who lack other fixed capital for collateral.