Sanima Bank Ltd. has entered into a $15 million trade financing pact with British International Investment (BII), the UK’s developmental finance entity. This loan is designed to enhance Sanima Bank’s trade finance capabilities, primarily financing the importation of capital goods for renewable energy initiatives, hydropower, manufacturing, food production, and agricultural sectors.
With hydropower accounting for over 90% of Nepal’s electricity supply, this collaboration is in line with the government’s objective of generating 15GW of electricity by 2035. The facility will assist in the establishment of renewable energy plants, the importation of hydromechanical and solar technologies, as well as procurement for manufacturing and agriculture.
British Ambassador Rob Fenn underlined the UK’s dedication to sustainable economic enhancement in Nepal, while BII Regional Director Habib Yousuf noted the significance of this undertaking in improving access to clean and reasonably priced energy.
Sanima Bank Deputy CEO Pawan Kumar Acharya reiterated the bank’s commitment to the transition towards sustainable energy and the mitigation of climate change. This agreement highlights Sanima Bank’s strategic emphasis on renewable energy, contributing to economic development, environmental sustainability, and energy reliability in Nepal.
