Kathmandu, Mar. 3: The Alternative Energy Promotion
Centre (AEPC) has become a Green Carbon Fund (GCF) accredited body in the
country. With this accreditation,
AEPC can access up to USD 50 Million in GCF funds for low-carbon, climate
resilient development projects and programmes in Nepal, said the Ministry of
Finance (MoF).
The 22nd Board
Meeting of the GCF last week approved the accreditation application of Nepal’s
first national direct access entity - AEPC – to implement low-carbon climate
resilient development.
“This is a landmark
moment for Nepal whereby a federal government institution has become accredited
for direct access with largest global fund on climate change” said Chief of the
International Economic Cooperation Coordination Division (IECCD) at the MoF
Shree Krishna Nepal. “This will help us to access and mobilize resources and
steering the country towards low-emission and climate resilient pathways,” he
added.
Likewise,
Executive Director of the AEPC Madhusudan Adhikari said that the agency was
able to gain accreditation status with the GCF after completing a rigorous and
stringent process. He said that the AEPC was committed to access resources in
adaptation and mitigation priorities aligned with country’s national
development strategies and nationally determined contributions.
According
to the MoF, this milestone for climate finance in Nepal was the result of the
strong commitment of AEPC, country’s National Designated Authority (NDA) to the
Fund, the MoF, and the technical support of the GCF Readiness programme, funded
by Germany and jointly implemented by the United Nations Development Programme
(UNDP) and United Nations Environment Programme (UNEP).
Established
in 1996, AEPC is the nodal agency of the Government of Nepal for the promotion
and development of renewable energy and energy efficiency in Nepal. AEPC focuses
in both on-grid and off-grid technologies and promotes local private
stakeholders for innovation, implementation and operation of projects.
Published in The Rising Nepal daily on 4 February 2019. 
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