The SET4NPL project works with many stakeholders. Technology, banking and finance partners are crucial to support the public transport and EMB ecosystem in Nepal.
SET4NPL selected Nabil Bank as the Handling Bank of the project through a national, public tender in 2022. The Handling Bank is responsible for managing the funds which are earmarked for grants to support the EMB support package under this technical development cooperation in an escrow account. Among other things, this includes the disbursement of funds to SET4NPL partners upon receiving and checking respective applications along with the adequate documentation.
SET4NPL has signed Memorandum of Understandings (MoU) with these Class A banks in Nepal to be Partner Banks / Partner Hire-Purchase Companies for the project. As a Partner Bank / Partner Hire-Purchase Company, these banks can be approached by public transport operators for the financing of electric mini- and microbuses (EMB). Each bank has its own specific financing conditions tailored towards the sector.
These vehicle suppliers have been shortlisted through the SET4NPL Tender Part A, offering EMB models which fulfilled the project’s minimum technical specifications.
Yatri Design Studio Pvt. Ltd. has been shortlisted through the SET4NPL Tender Part B, offering the best solution (technical and financial scoring) for the project’s digital ecosystem consisting of digital solutions for public transportation, as well as EV charging stations.
Nepal Payment Solutions Limited will be the payment gateway provider for the e-ticketing ecosystem. Meanwhile, Aloi Pvt. Ltd. will support Partner Banks in digitally tracking loan disbursement and repayments.
