KATHMANDU: Kumari Bank Ltd. and German Society for International Cooperation (GIZ) GmbH (GIZ Nepal) have signed a Memorandum of Understanding (MoU) to support the growth of electric public transport in Nepal under the Sustainable Electric Transport for Nepal (SET4NPL) project.
The partnership aims to make it easier for Public Transport Operators to buy electric micro and minibuses through affordable financing and subsidies.
Kumari Bank will provide special loan packages to help reduce the high upfront cost of electric vehicles.
The SET4NPL project also includes digital upgrades such as mobile apps, GPS tracking, LED route displays and open-loop e-ticketing systems to make public transport more efficient and user-friendly.
The program, implemented by GIZ Nepal and the Global Green Growth Institute (GGGI) with support from the Ministry of Physical Infrastructure and Transport, is funded by the Mitigation Action Facility (MAF).
It plans to deploy around 3,500 electric minibuses nationwide.
The initiative is expected to lower operational costs, promote cleaner transport and support Nepal’s shift from fossil fuel vehicles to sustainable electric mobility.
