Cooperative promotes renewable energy with collateral-free loans

Kanchanpur: The Creative Savings and Credit Cooperative in Shuklaphanta Municipality-10, Jhalari, has initiated a renewable energy investment program aimed at replacing traditional energy sources.

The cooperative offers concessional loans to encourage the adoption of renewable energy technologies such as e-rickshaws, biogas systems, solar-powered irrigation, solar lighting, and electric stoves. Executive Head Madan Raj Bhatta reported that 150 individuals have already availed themselves of collateral-free loans under this initiative.

Bhatta explained that loans up to Rs 100,000 are provided in collaboration with the Alternative Energy Promotion Center. “This program, running since last year, aims to reduce environmental pollution and dependence on forests,” he said. E-rickshaws have been a popular choice among loan recipients, followed by solar energy-based irrigation systems.

The cooperative actively informs its members about the benefits of renewable energy through discussions and awareness programs. Additionally, grant and loan schemes in collaboration with donor agencies are being implemented to support organic commercial agriculture.

“We are focused on boosting farmers' production capacity while offering support in marketing their produce,” said Khagendra Prasad Pandey, the cooperative's secretary. “Financial and technical assistance is being delivered directly to farmers’ doorsteps, along with training in necessary farming techniques and systems.”

The cooperative continues to expand investments in the productive sector, providing skill-based and entrepreneurship-focused training in response to members' needs and demands.