Paper
IFAD-APRACA FinPower Green Finance Forum in Nepal: Integrating Renewable Energy and Environmental Sustainability into Rural Financing – Completion Report
Integrating renewable energy, environmental sustainability and rural financing in Asia
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63 pages
This report discusses the progress made by Bangladesh, Cambodia, Lao PDR, Mongolia, Philippines, Thailand and Vietnam in developing renewable energy projects at the grassroots level. It explores the case of Nepal in greater detail.
The report summarizes the energy resources, climate and policies for promoting renewable energy technologies (RET) in these countries. It also highlights the existing rural financial system, its problems and their solutions. Findings include:
- Government will have to play a crucial role to enable linkage between renewable energy and financing in Asia by partnering with institutions like APRACA, IFAD, NRB and other stakeholders;
- Facilitating carbon trading for all RETs at the international market is an important aspect that should be considered in all countries;
- Commercial banks should focus on the wholesale lending and MFIs on retail lending. Track record-based financing for MFIs should be promoted;
- Private sector should be open to connect with banks and local MFIs and support the availability of loans, insurance services for RET.
The report concludes that for integrating renewable energy and environmental sustainability into rural financing, appropriate policies should be in place. Besides, public-private partnership model must be adopted to promote RET financing.
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