Sanima Bank Secures $15M BII Loan to Boost Renewable Energy

Sanima Bank Ltd. has signed a $15 million trade loan agreement with British International Investment (BII), the UK’s development finance institution. The loan aims to strengthen Sanima Bank’s trade finance operations, primarily funding the import of capital goods for renewable energy projects, hydropower, manufacturing, food, and agriculture sectors.

With hydropower contributing over 90% of Nepal’s electricity, this partnership aligns with the government's goal of developing 15GW of electricity by 2035. The facility will support the construction of renewable energy plants, the import of hydromechanical and solar equipment, and procurement for manufacturing and agriculture.

British Ambassador Rob Fenn emphasized the UK’s commitment to sustainable economic development in Nepal, while BII Regional Director Habib Yousuf highlighted the impact of this initiative in improving access to clean and affordable energy.

Sanima Bank Deputy CEO Pawan Kumar Acharya reaffirmed the bank’s dedication to sustainable energy transition and climate change mitigation. This agreement underscores Sanima Bank’s strategic focus on renewable energy, contributing to economic growth, environmental sustainability, and energy security in Nepal.