December 4: Muktinath Bikas Bank has signed an agreement with Build up Nepal Engineering Pvt Ltd for financing the Compressed Stabilized Earth Brick (CSEB) enterprises in rural areas of Nepal.
Pradyuman Pokharel, CEO of Muktinath Bikas Bank, and Bjorn Soderberg, managing director of Build Up Nepal represented their respective organisations during the signing ceremony held recently.
Build up Nepal Engineering said in a statement that it is dedicated to promoting environment friendly technology with its team of engineers, business developers, social entrepreneurs and builders.
According to the organization, it started its journey in Nepal as a partner for reconstruction with NGOs and entrepreneurs. It is currently implementing a pilot project which has adopted an ecosystem approach for the sustainable promotion of CSEB enterprises. Improving the access of entrepreneurs to formal financing mechanism is an important element of the pilot project, the statement said.
“The agreement has paved the way for project-based financing for rural entrepreneurs who lack other fixed capital for collateral.”