Kathmandu, September 7 :

Clean Energy Financial Institution Ltd (CEFI), an energy sector national development bank (B category Financial Institution) began its transactions from today, states a press release issued here today by the company.

Dumber Nepali opened the first account in the inaugural ceremony.

CEFI has been promoted by Employees Provident Fund (EPF), insurance companies, energy experts, business houses, professionals and Nepali individuals with a stake of 51 per cent in the total paid-up capital of Rs 320 million.

Nineteen per cent share has been set aside for international joint venture and other corporate bodies. Similarly, 30 per cent share will be floated for the public.

USAID, through Winrock International, is supporting CEFI in the technical know-how, capacity building and networking with international donors.

CEFI aims at focusing investment on renewable energy technology, clean energy infrastructure projects, clean transport and rural electrification, states the press release.

At the same time, it will also provide technical know-how, project financing, pre-investment activities, investment and corporate advisory and international resource mobilisation, states the press release.