Kathmandu: The Ministry of Energy, Water Resources and Irrigation has announced a new initiative to provide concessional loans to poor citizens, enabling them to invest in hydropower projects without the need for collateral. This move is part of the ‘People’s hydropower project,’ which aims to enhance the living standards of impoverished citizens across the nation and contribute to the country’s prosperity.
According to National News Agency Nepal, the initiative will allow poor households to invest in hydropower projects with loans ranging from Rs 200,000 to Rs 500,000, depending on the project’s capacity. Energy Minister Dipak Khadka disclosed this development during a press conference held at the Ministry on Monday. He emphasized the importance of equitable access to resources for all citizens, stating, “All citizens have rights upon resources. We cannot achieve prosperity as imagined by us if poor people are not taken ahead.” The arrangement of shares will be based on households.
Minister Khadka further
described the initiative as an economic revolution aimed at improving the financial status of low-income individuals, including civil servants. The procedure has been amended specifically for these groups, and the provision will initially target poor people in hydropower-affected districts and those with transmission lines, with plans for gradual implementation nationwide.
The government will identify eligible households through local level data to ensure the equitable distribution of shares to poor citizens. The announcement was made in the presence of several key figures, including Minister of State for Energy, Water Resources and Irrigation, Purna Bahadur Tamang, and various secretaries and senior energy experts from the Ministry.