KATHMANDU, DECEMBER 2
The Ministry of Energy, Water Resources, and Irrigation is set to arrange concessional loans for underprivileged citizens, allowing them to invest in hydropower projects without the need for collateral.
This initiative aims to enable poorer households to purchase shares in the 'People's Hydropower Project,' with the goal of contributing to national prosperity by improving the living standards of economically disadvantaged citizens across the country.
As part of the arrangement, eligible households will be able to secure loans ranging from Rs 200,000 to Rs 500,000, based on the scale of the hydropower project.
Energy Minister Dipak Khadka shared this information during a press conference at the Ministry on Monday. He emphasized, "All citizens have rights to resources. We cannot achieve the prosperity we envision if we do not include the poor." He added that the provision for shares would be determined based on households.
Minister Khadka also described the initiative as an "economic revolution" that aims to build a prosperous nation by improving the financial status of the underprivileged. He noted that the amended procedure is specifically targeted at low-income households and civil servants with limited financial resources.
The provision will initially be implemented for residents of hydropower-affected districts and those with transmission lines, before being gradually extended nationwide, according to the Ministry.
The government will ensure that the poor are allocated shares, based on data provided by local levels regarding the number of households.
Also present at the press conference were Minister of State for Energy, Water Resources, and Irrigation Purna Bahadur Tamang, Secretary of the Ministry Suresh Acharya, Irrigation Secretary Sarita Dawadi, Secretary of the Water and Energy Commission Ram Prasad Ghimire, and Senior Energy Expert Prabal Adhikari.
