Nabil, BEEN sign MOU for energy efficient housing

Kathmandu, Oct. 5

Nabil Bank has signed a Memorandum of Understanding (MoU) with Building Energy Efficiency in Nepal (BEEN-Project) funded by the European Union (EU) to collaborate for the promotion of energy efficient and sustainable housing in Nepal.

With this agreement, both Nabil Bank and BEEN Project agree to work in promotion of sustainable and climate-responsive building design in Nepal.

Gyanendra Prasad Dhungana, Chief Executive Officer of the Bank, and Daniel Neyer, Project Leader, BEEN –Project, signed the agreement on Thursday.  According to the bank, the partnership will specifically roll out activities on developing innovative financing package, build technical capacities to assess financial package and facilitate linkages to access preferential financial schemes for the promotion of sustainable and energy efficient buildings.

Speaking on the MoU signing programme, Upendra Prasad Poudyal, Chairman of Nabil Bank, said that the bank has always been sensitive towards climate change and contributing to reduce global warming. Stating that banking sector plays a vital role in reducing climate emergencies, Poudyal said, “Building energy efficient and sustainable building not only benefits environment but also has positive impact on our community and economic cycle.”

He further informed that huge investment is required to achieve net zero emission by 2045.

With the common goal to promote and raise awareness about sustainable housing, Nabil Bank has introduced ‘Sustainable Housing Loan’ where BEEN is providing the technical assistance to define the parameters and also support in providing training and promotion and awareness of sustainable housing.

Dhungana said that the bank is promoting sustainability in many ways by supporting electric vehicle financing and sustainable housing loans products along with other sustainable practices in daily operations

Likewise, Neyer said, “With this partnership, BEEN- Project will specifically roll out activities on developing innovative financing package, build technical capacities to assess financial package and facilitate linkages to access preferential financial schemes for the promotion of sustainable and energy efficient buildings.”

The BEEN Project is funded by the EU under its SWITCH-Asia Programme to promote low carbon resource efficient and circular economy through EU Green Deal and Global Gateway. 

Published in The Rising Nepal on 6 October 2023.