Kathmandu, June 29

Nepal has called for enhanced support from the European Union and other development partners to harness Nepal’s hydropower potential.

Speaking at a seminar organised by the Nepali Embassy in Brussels yesterday, Charge d’ Affaires Ghanshyam Bhandari said realising such potential was essential for the country’s socio-economic development. The workshop was organised in collaboration with European Institute for Asian Studies.

Bhandari said hydropower development in Nepal could create job opportunities, enhance income levels, contribute to poverty reduction and propel economic growth. He also underscored the importance of support and cooperation extended to Nepal by the EU, European Investment Bank and EU members in hydropower sector.

Bhandari said while it was important to comply with the common technical, social and environmental standards in energy sector, it was also imperative that the specific development needs of the least development countries like Nepal were considered.

EIAS Senior Associate and former EU ambassador to Nepal Alexander Spachis, who chaired the programme, said ‘diversification of sources of finance’ was needed to boost production of electricity.