“Provide Easy Loans for Electric Vehicle Charging Stations” – The Himalayan Times – Nepal’s No.1 English Daily Newspaper

“Offer easy loans for electric vehicle charging stations”

Kathmandu, December 29

Nepal Rastra Bank has ordered banks and financial institutions (BFIs) to prioritize granting loans to establish charging stations for the promotion of electric vehicles (EVs) in the country.

The central bank recently issued a directive to CIBs that classified the establishment of charging stations for electric vehicles as a priority area for loan disbursement, as the government aims to increase electricity production and simultaneously increase l use of electric vehicles.

The directive also states that hydropower is a renewable energy and will play a vital role in the public transport sector. Therefore, IBFs should prioritize the provision of loans for the construction of charging stations.

The government is working to promote the use of electric vehicles.

It aims to increase the volume of electric vehicles across the country by 30% over the next 10 years. Meanwhile, the Nepal Electricity Authority has also started the process of building 50 charging stations in the Kathmandu Valley and along major highways.

Previously, the Ministry of Energy, Water Resources and Irrigation had drawn up a plan to set up more than 200 charging stations for electric vehicles to prioritize electric vehicles to maximize use. electricity.

On August 29, the ministry had prepared the “operational directive of the electric vehicle and the installation of charging stations”. In accordance with the guidelines, the NEA will be responsible for approving the establishment of charging stations, ensuring uninterrupted power supply and monitoring their safety and leakage.

The electric utility will also be responsible for determining service charges, testing and authenticating charging stations, among other things.

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