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Green bonds have been issued for the first time in Nepal with the help of the Korean government. In a special ceremony held here on Tuesday, it is said that the process of issuing green bonds has progressed.
For this, Nepal Infrastructure Bank (NIFRA) was informed that with the financial support of Global Green Growth Institute (GGGI) and Korea International Cooperation Agency (KOICA), the work has progressed with approval from regulatory bodies including Nepal Rastra Bank.
Nifra Green Energy Bond 2088-89 The bond to be issued will be worth five billion rupees (36 million US dollars) and will bear interest at the rate of six percent per annum for a period of seven years. It is expected that the amount received from the bond will be given priority to support the renewable energy sector and it will play an important role in clean, green infrastructure investment in Nepal. In the
program, Forest and Environment Minister Ain Bahadur Shahi Thakuri opined that the launch of green bonds for the first time in Nepal will prove to be a milestone in the journey of economic development in the face of sustainable development and climate change. Mentioning the government's strong commitment to environmental protection, clean energy and green infrastructure, he also said that the mobilization of green finance will open a new path for inclusive economic growth and international cooperation.
The South Korean Ambassador to Nepal, Park Taeyang, highlighted the commitment of the Korean government towards the green development of Nepal and said that the 'Green Bond' will help Nepal to attract more investment and support sustainable and inclusive economic growth. He said it He said that the foundation has been prepared to strengthen the institutional and technical capacity.
Koika's Country Director for Nepal, Muhan Khong, opined that the issuance of green bonds should be considered as the beginning of financial innovation. He thanked Nepal's strategic commitment to promote green inclusive development to link economic growth with climate and environment and emphasized on cooperation.
GGGI's country representative Laura Jalasjoki expressed her happiness that the first public green bond was issued in Nepal with the cooperation of various partner organizations. He expressed his belief that this work will be beneficial for sustainable development of the country and environmental friendly cooperation in the face of climate change. The
program was attended by members of the National Planning Commission Prof. Dr. RP Biccha, high-ranking government employees, regulatory bodies, development partner organizations and representatives of the private sector.
