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Clean Energy Development Bank Ltd. (CEDB), established in 2006 in a joint venture with FMO – Netherlands, is the first national level development bank and perhaps the only Bank in Asia to have a focused developmental agenda towards harnessing the nation’s abundant natural resources in addition to uplifting the standards of living of the people of Nepal. CEDB is playing a proactive role in finding the best solutions to create an effective platform for the sustained development of the country. Thus, “CEDB is, in its rightful sense, a true development bank, a fact that has been attested after it won the Best Development Bank 2010.”

Above and beyond, CEDB is also committed towards excellence in general banking business. It offers a wide range of corporate and retail banking services with a unique customer oriented approach. All in all, the bank is dedicated to achieving sound business growth and maximizing stakeholders’ values by embracing team spirit, progressive technology and good corporate governance.

CEDB with the help of USAID came up with an innovative product, i.e. the CEDB Hydro Fund (CHF). This product raised NPR 230 Million from the general public and as of today it stands extremely successful with over 100 MW worth of projects under various stages of development. CEDB believes that this endeavor will go a long way in the development of hydel power and will be a major milestone for such progress in Nepal.

CEDB has been actively utilizing its in-house capability brought in by its energy experts for due diligence and feasibility studies of medium and small hydel power projects. CEDB formed a Strategic Partnership Agreement with Northwest Hydro Consulting Engineers (NWH) – one of the world’s leading hydropower consulting companies from China. The agreement envisions fulfilling techno-financial analysis and a transfer of cost effective technology for medium and large size hydropower projects bringing together the Bank’s in-house expertise and the vast knowledge of NWH in this domain.

CEDB inked an agreement with the renowned Dragon Capital Limited, a company based in Vietnam, for Mekong Brahmaputra Clean Development Fund (USD 100 million) for equity investment in hydropower projects. The agreement envisions identifying, assessing and financing quality hydropower projects in Nepal and Bhutan.

CEDB has attempted to resolve the underlying constraints in funding options for hydel projects through local financial intermediaries in Nepal that is limited to investment capabilities of a single 50 MW project or a total setup of 100 MW- by gaining access to debt financing support for large hydel projects through the international financial community. Accordingly, CEDB is in the process of financing (NPR) 2 Billion on its part to the 16 hydel power projects portfolio and is the lead bank in 12 of these projects.

CEDB (CEDB Hydro Fund Ltd.) signed an agreement with FNCCI, as per the Public Private Partnership (PPP) model, for the development of micro & small hydel power projects, ranging from 1 to 10 megawatts in capacity, in 45 districts across Nepal. This vision of CEDB for the empowerment of Nepal is to be accomplished by the year 2014.

Energy saved is energy created. In line with this vision CEDB has taken an initiative to build awareness, identify technologies and arrange resources in this direction, whereby we create a position to save huge wastage of precious energy. To support this initiative, CEDB signed an agreement with International Finance Corporation (IFC), a member of the World Bank Group, to train staff members to improve their skills when evaluating proposals on energy efficiency and renewable energy financing, as well as product development and marketing. It also involves engineering due diligence for energy efficient projects, benefits from IFC’s initiatives in Nepal on energy auditor development, market potential studies and targeted awareness with training activities related to sustainable energy finance.

In addition, CEDB has been working closely with GTZ-SHPP, AEPC, SNV and various domestic and international donors and funding agencies for the development of clean energy production and uses. It has entered into an agreement with the Asian Development Bank (ADB) for the development of Carbon Reductions and its trading.

CEDB is pursuing a defined positioning strategy to build one of the finest financial brands in Nepal and is striving to gain a reputation as a leader in the energy sector, while maintaining sustainable banking operations. In the banking side of the business, CEDB has been successful in establishing highly reliable and customer friendly service standards, comparable to the most prominent banks in Nepal, with an innovative range of deposit and credit products. In addition to its Head Office in Sitapaila, Kathmandu, CEDB also possesses 7 branches throughout Nepal with 2 inside the Kathmandu valley at Thapathali & Durbar Marg and the remaining at Gorkha, Birtamode, Phidim, Katari and Taplejung.

In terms of rural development, CEDB has extended its services to the rural areas like Phidim (Panchthar), Phungling (Taplejung) and Katari (Udaypur) and is the first private financial institutions to be established in the region. The rural activity of the bank has also been extended through partnering with local financial institutions to provide services to the grass root levels of the economy by providing solar home system loans (in Dailekh) and cattle financing ( in Gorkha). These activities, in reality, have supported in building the brand CEDB as a dedicated national level bank.

CEDB also established a subsidiary, Clean Developers Private Limited (CDPL), where professionals from different walks of life have come together to benchmark the next era of real estate development in Nepal. With the highest level of corporate governance and transparency in operations, CEDB business philosophy is not limited to creating just concrete and brick structures but to work towards sustainable development by identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions. The projects, Central Park and Central Business Park are all set to redefine the benchmarks of sustainable realty development by being built to the specifications of the Leadership in Energy & Environmental Design (LEED) certification from the US Green Building Council- a remarkable achievement and the first of its kind in Nepal.