A sunny Autumn day in Mansion House, in the heart of the City of London, the crucible of climate finance, meeting with and addressing the Minister of Finance of Nepal, the Ambassador of Nepal to the UK, representatives of the Ministry of Energy, Water Resources and Irrigation of Nepal, the Central Bank of Nepal, the Independent Power Producers Association of Nepal, UKEF and many private sector participants.
The UK has a long bilateral history with Nepal spanning over 200 years: the UK was the first country with which Nepal established a diplomatic relationship in 1816. This year, the two countries celebrate the Centenary of the 1923 Treaty of Friendship. That is what I call #partnershipsforthegoals
Nepal’s clean energy generation targets are tangible and ambitious. By 2030, the country aims to expand clean energy generation from approximately 1,400 MW to 15,000 MW, of which 5-10 % will be generated from mini and micro-hydro power, solar, wind and bio-energy. Of this, 5,000 MW is an unconditional target. The remainder is dependent upon the provision of funding by the international community (and yes, that means the banks, asset managers, and insurance funds that form part of the City of London Corporation's ecosystem).
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