Kathmandu. KATHMANDU: The government of Nepal and the World Bank (WB) have held discussions on the ‘Nepal Clean Air and Prosperous Nation’ project.

An agreement to invest in the project worth around $156 million is expected to be finalized in the near future.

Under the project, $100 million will be provided as concessional loan. In addition, a 20 percent subsidy will be provided to fuel-based industries to encourage them to transition to environment-friendly energy technologies.

According to the government, this subsidy will be given directly to the industries. The distribution will be done through Rastriya Banijya Bank. The project aims to modernize technology, use clean energy and reduce air pollution.

The project is expected to be an important basis for the government’s plan to reduce environmental pollution and ensure long-term prosperity by pushing Nepal’s industrial sector towards clean energy.