Kathmandu,
Nov. 19:
Andrew
McDowell, Vice President of the European Investment Bank (EIB) responsible for
South Asia and global energy activity, has arrived Kathmandu in a four-day visit to
Nepal at the start of his South Asia
regional visit this week.
He is be
accompanied by a high-level delegation, said the EIB and the European Union
(EU) in a joint statement on Monday.
“Nepal has
shown how investment in renewable energy can both transform access to
electricity and harness clean power sources to benefit rural communities. The
EIB is committed to supporting transformational climate related investment
across Asia and my team and I look forward to discussing how the EU’s Bank can
strengthen engagement in Nepal in the years ahead.” said McDowell, speaking ahead
of his arrival in Kathmandu.
Veronica
Cody Ambassador and Head of the European Union Delegation to Nepal said
that the European Union and Nepal recognise the challenges of a changing
climate and the importance of new climate related investment.
“This high-level visit from the EIB will allow future investment to
be considered and recent support for rural electrification in Trishuli to be
seen at first hand,” she said.
McDowell
will meet Prime Minister KP Sharma Oli and other ministers. He will also attend
a ground-breaking ceremony to formally mark the start of construction of the
Chilime-Trishuli transmission line by the Nepal Electricity Authority.
The
project is partly financed by the European Investment Bank under its largest
single project in Nepal.
The
European Investment Bank has provided more than EUR 190 million for energy
investment across Nepal over the last five years.
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