Nepal Bankers’ Association, USAID-Urja Nepal and WWF Nepal jointly organized a Workshop on International Project Financing. The main objective of the workshop was to bridge the gap between local project financing practices and international practices. The workshop also aimed to create awareness among local stakeholders about international project financing aspects, share knowledge and best practices, and facilitate discussions on how Nepal can integrate these into its energy financing landscape.
Deputy Chief of Party of Urja Nepal Mr. Aditya S. Banerjee highlighted the importance of large-scale project financing at present context and also emphasized that Urja Nepal is keen to collaborate with relevant stakeholders to enhance their knowledge and skills and also to provide support especially large-scale project financing related to energy sector. During the program, Energy Specialist of USAID Nepal, Mr. Shankar Khagi highlighted that despite many potentials of energy sector development, Nepal has yet to fully capitalize on it. Mr. Khagi underscored the comparative advantage of clean energy production in Nepal, citing its cost-effectiveness in comparison to other nations. He also pointed the immense potential for Nepal to harness these benefits.
During the program, NBA President Mr. Sunil KC highlighted that the government has outlined optimistic and encouraging targets, emphasizing the importance of strategic investment in infrastructure and energy projects which requires a massive influx of investment in Nepal. To fulfill the funding gap, relying solely on domestic resources won’t be adequate. In this context, he said the significance of large scale project financing is important, and programs like this would be very beneficial for bankers and other concerned stakeholders to enhance their knowledge needed to innovate financing structures and foster collaboration which is essential for large-scale project financing in Nepal.
At the event, Country Representative of WWF Nepal, Mr. Ghana Shyam Gurung addressed about the common misconception that wildlife conservation opposes development. He stressed that both development and wildlife conservation can coexist harmoniously. Furthermore, he emphasized the necessity for collaboration among all stakeholders to enhance Nepal’s economic growth. And only by working together, the efforts towards achieving sustainable development goals can be synergized.
Chief Guest of the Program, Senior Deputy Governor of Nepal Rastra Bank, Dr. Neelam Dhungana Timsina, said that Nepal Rastra Bank is formulating policies aligning with the international practices and standards, in order to promote and regulate this sector in a more effective and efficient manner. She further stressed that sooner or later, Nepalese financial sector has to align and comply with these policies, and follow the same path as the international community, hence there is need of preparedness and proactiveness, so that no one lag behind or miss out on the opportunities and benefits of large-scale project financing.
Throughout the program, various presentations were delivered, each focusing on different aspects of International Project Financing. The discussion followed by the presentation was very productive and fruitful, where the participants asked relevant questions and shared their opinions, The program was attended by government officials, DFIs, officials from Commercial banks and concerned stakeholders.