The British International Investment (BII), UK’s development finance institution and impact investor, has provided Sanima Bank with a $15 million trade loan facility. The credit line will strengthen Sanima’s trade finance offering — which will be utilised in funding the import of capital goods for renewable energy projects with a focus on hydropower, as well as manufacturing, food and agriculture goods.
The funding will facilitate the construction of renewable energy plants, the import of hydromechanical and electromechanical equipment, solar energy components, and the procurement of essential raw materials for manufacturing and agricultural production, says their press release.
According to Mr. Pawan Kumar Acharya, Deputy Chief Executive Officer, Sanima Bank, the partnership marks a significant step towards accelerating Nepal’s transition to sustainable energy sources while addressing the country’s growing energy needs. This endeavour also aligns with global efforts to reduce reliance on fossil fuels and combat climate change. Sanima Bank envisions to promote low-carbon energy projects that foster economic growth and create long- term positive impacts for local communities.”
