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Reaching the Last Mile - Austria-Nepal Renewable Energy Blended Finance Facility
The Austria-Nepal Renewable Energy Blended Finance Facility, funded by the Austrian Government and implemented by REEEP in cooperation with SNV and NMB Bank Nepal, supports this shift by establishing a blended finance instrument for renewable energy projects and carrying out capacity-building activities. It is working towards:
1. mainstreaming commercial lending for renewable energy projects in Nepal;
2. building capacity among key stakeholders at the provincial level for upscaling renewable energy programs;
3. accelerating the transition of the Nepalese clean energy market away from being mostly dependent on subsidies, and help establish a market based on credit to enhance the Nepalese government’s access to and use of international technical assistance and finance.