The European Commission and the Nepalese authorities launched a ‘green recovery’ initiative on Wednesday 8 February as part of the EU’s Global Gateway investment strategy, during a visit to Nepal by European Commissioner for International Partnerships Jutta Urpilainen.
This new initiative, financed by the EU, its Member States and financial institutions, will mobilise more than €100 million in co-financing until 2024, with contributions from Finland, France, Germany and the EIB.
“€200 million of loans were committed last year to support the green recovery over the last two years. This amount will be increased to €300 million by 2024. These loans will be provided by the EIB and guarantees by European Development Finance Institutions”, said Commissioner Urpilainen in a video message released by the Commission.
She assured that the ‘Green, Resilient, and Inclusive Development’ agenda, “carried out together with government counterparts, our development partners, the private sector and civil society”, supports the priorities of the Nepalese government.
Germany, for example, will help bring hydropower to communities and Finland will help improve sanitation and access to clean water for hundreds of thousands of people, she said.
€20 million will also be devoted to cooperation with civil society - “crucial partners in ensuring youth engagement”, Ms Urpilainen stressed. (Original version in French by Aminata Niang)