Concessional loan made easy for charging station development

KATHMANDU: SEPT. 24 – The Nepal Rastra Bank (NRB) has unveiled a new provision ensuring concessional loan for the establishment of the electronic vehicle charging station.

The central bank has come up with such an idea to promote the use of e-vehicles and increase electricity consumption through the third amendment to refinancing procedures.

The latest move of the central bank is to benefit the private sector that is working for the development of electronic vehicle charging stations with top priority in recent days.

Currently, 15 charging stations have been run while the Nepal Electricity Authority (NEA) is working to set up 50 electronic vehicle charging stations across the country.

Likewise, the NRB would provide refinancing service to the broadband internet service providing organisation, which will help increase internet penetration in the country’s rural areas.