Nepal And Germany signed an agreement today on Energy sector cooperation at the Ministry of Finance of the Government of Nepal. For German Ambassador Matthias Meyer, who will be starting to drive home tomorrow at the end of his 37 year long career in German Foreign Service, this was the last official business. Ambassador Meyer is retiring from service from today.

Nepal was his sixth Ambassadorial posting in these 37 years. Prior to being assigned for Nepal, he was Germany’s ambassador in Tajikistan, Libya, Afghanistan, and Moldova.

 While driving home, Ambassador Meyer plans to cover 11000 kilometers by road in eight weeks.

Nepal Germany Signed Financial Cooperation Agreement

Secretary Shanta Raj Subedi at the Ministry of Finance and German Ambassador Matthias Meyer signed a financial cooperation agreement of Euro 16 million (equivalent NRs. 1.85 billion) on behalf of their respective governments.

The grant assistance committed by the German Federal Government last year will be used for the implementation of the project “Promotion of Energy Efficiency and Renewable Energy in Nepal, Phase II”.

The cooperation will comprise financial assistance for the construction of the Leknath-Damauli 220 KV double circuit transmission line. This transmission line is a crucial element of strengthening Nepal’s national grid, as it will evacuate power from various hydropower plants being constructed both by the public and private sectors.

 According to a press release issued by Embassy of Germany, the total cost estimate for the project amounts to €32.5 million (equivalent NRs.3.82 billion). Almost 50% of the project cost will be covered by German Financial Cooperation (through KfW), while the Government of Nepal has committed to complementing the total cost of the project through NEA’s own funds. Both Governments expressed their commitment to ensuring a successful and timely implementation of this key project.