Today, a new Global Gateway energy flagship project was launched in Nepal with the inauguration of a 28 km extension of Chilime-Trishuli 220 kV double circuit electricity transmission line and sub-stations that allow distribution of electricity from hydropower. The flagship project "Efficient Transmission of Electricity from Renewable Energy Sources in Nepal" will support electrification of rural households and provision of clean, affordable and reliable energy to the Nepali population.
European Commissioner for International Partnerships Jutta Urpilainen said: "Marking 50 years of the ever-growingEU-Nepalpartnership, this Global Gateway flagship is an excellent example of us setting common goals, providing opportunities for local communities and boosting climate resilience in Nepal. I was privileged to visit Nepal last year and could sense the potential. The successful EU-Nepal Business Forum is another milestone, as we continue to strengthen ties to foster sustainable investments and support Nepal''s graduation from the Least Developed Country category."
The €65 million project is jointly financed in a Team Europe approach by the Government of Nepal, German government through its Development Bank KfW (grant €14 million), European Investment Bank (loan €25 million) and the European Union under its Asia Investment Facility (€2.25 million).
The inauguration followed the EU-Nepal Business Forum held on 15-16 May and took place in Team Europe format. The EU was represented by Deputy Director General for International Partnerships at the European Commission and EU Ambassador to Nepal, together with the Director of EIB Global''s International Partnership Department, the Ambassador of Germany and representatives of Nepal and the GermanDevelopment BankKfW.
Global Gateway is the EU''s positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.
TheGlobal Gatewaystrategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. Together, we aim to mobilise up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.
The European Union supports Nepalin its economic transition and green recovery through the priorities for green growth, human capital development and good governance. In particular, the EU is partnering with Nepal to support the implementation of renewable energy and energy efficiency targets of Nepal''s Nationally Determined Contribution.
(Clockwise) Mr.Ken O''Flaherty, UK Regional Ambassador for Asia Pacific and South Asia at COP26 Climate Summit; Mr. Janardan Sharma,Honorable Finance Minister of Nepal; Mr. Madhu Kumar Marasini, Finance Secretary of Nepal; and, Mr.Hartwig Schafer, World Bank Vice President for South Asia (clockwise) with the "Kathmandu Declaration" at the high-level roundtable event titled Nepal''s Transition to Green, Resilient, and Inclusive Development (GRID) for Sustainable Recovery, Growth, and Jobs.
KATHMANDU, September 24, 2021 – The Government of Nepal and development partners endorsed the landmark ''Kathmandu Declaration'' yesterday to develop a strategic action plan for Nepal towards Green, Resilient, and Inclusive Development (GRID).
The Declaration was endorsed by the Ministry of Finance on behalf of the Government of Nepal, Asian Development Bank, Australia, European Union, Finland, France, Germany, International Monetary Fund, Norway, Republic of Korea, Switzerland, United Kingdom, United Nations, United States, and the World Bank at a high-level roundtable event titled Nepal''s Transition to Green, Resilient, and Inclusive Development (GRID) for Sustainable Recovery, Growth, and Jobs.
Under the Kathmandu Declaration, Nepal''s development partners have identified up to $4.2 billion in potential future support, in addition to the $3.2 billion in previously committed resources to support GRID.
The GRID Strategic Action Plan will coordinate international and domestic financing for priority investments in Nepal''s recovery from the crisis caused by the COVID-19 pandemic.
"The Government of Nepal is committed to the Green, Resilient, and Inclusive Development vision that will support Nepal''s recovery from the COVID-19 pandemic and help address the challenges of climate change and rising inequality," said Honorable Finance Minister, Mr. Janardan Sharma. "We look forward to working together with development partners, private sector, and key stakeholders to build back Nepal better and stronger."
Investments will support Nepal''s 15th development plan, Nationally Determined Contribution to the Paris Climate Accords, and the Sustainable Development Goals in promoting green growth, jobs, and infrastructure, and building resilience to climate change and shocks from disasters, as well as equitable access to services for Nepalis.
The government and development partners intend to scale up support for such areas as sustainable tourism, renewable energy, cleaner transport and resilient roads, integrated solid waste management, sustainable forest management, watershed protection and water supply, biodiversity conservation, adaptive social protection, climate-smart agriculture, and sustainable cities. Partnerships and opportunities will be sought with the private sector to increase green investment and support job-creating small and medium enterprises and businesses in these and other areas.
Nepal''s GRID vision also emphasizes inclusion to enable women, indigenous groups, and vulnerable and marginalized communities to realize the benefits of a green, resilient recovery. This includes skills training and education opportunities to help citizens prepare for an evolving job market in a new green economy with greater opportunities for all Nepalis.
The roundtable, organized in the lead up to COP26, included representatives from the federal and local government, development partners, private sector, and climate experts.
Hartwig Schafer, World Bank Vice President for South Asia: "The World Bank has committed globally to align all its financing to the objectives of the Paris Agreement on climate change by July 1, 2023. We are honored to support Nepal''s GRID agenda to guide investment and policy directions in line with its Nationally Determined Contribution and Sustainable Development Goals targets."
Ken O''Flaherty, UK Regional Ambassador for Asia Pacific and South Asia at COP26 Climate Summit: "The GRID approach being adopted in Nepal is a world class example of how countries can mobilise resources for sustainable development and ambitious climate action. I hope that Nepal can showcase this approach at COP26 and encourage others to do likewise."
Shixin Chen, Vice-President, South Asia Department and Central and West Asia Department, Asian Development Bank: "ADB is committed to ensuring 75% of the total number of ADB''s operations and $80 billion investments will support climate change adaptation and mitigation by 2030. We welcome Nepal''s GRID agenda and affirm our strong commitment to work with all stakeholders to advance the integration of climate and development to achieve a resilient, inclusive and sustainable economy."
Jean-Louis Ville, Acting Director for Asia, Central Asia, Middle East/Gulf and the Pacific, European Commission: "Globally, Team Europe contributes 25 billion dollars per year for climate finance. As Team Europe, together with our Member States Finland, France and Germany and the European Investment Bank, the EU is also committed to achieve a Green Recovery in Nepal."
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