Remit Hydro

Date Shared:

Friday, October 11, 2019 - 16:06

Countries and areas:

Nepal

2030 Agenda migration-relevant and related target Labels:

Goal 10: Reduced inequalities - 10.c on remittances costs reduction

GCM Thematic Cluster Areas:

Objective 19: Create conditions for migrants and diasporas to fully contribute to sustainable development in all countries

Objective 20: Promote faster, safer and cheaper transfer of remittances and foster financial inclusion of migrants

Contributors:

Business

Member States

Chairmanship:

Ecuador 2019

Geographical Relevance:

National

Tags:

Remittances, Sustainable Development , Climate

Summary:

Remit Hydro, a subsidiary of the government company Hydro Electricity Investment and Development Company Limited (HIDCL), is a concept for the development of hydropower sector in Nepal. A part of the remittance money the country is receiving will be used in the equity investment of hydropower projects. The project aims to promote collective remittances for development and encourage the productive use of remittances.

Established in 2014, Remit Hydro has been issued survey licenses for two run-off-the-river mid-sized hydro-power projects in Taplejung, in Eastern Nepal, at 19 Arab Rupees. It is expected that 24 per cent of this would be set aside for migrant workers.

Link:

http://remithydro.org.np/page/2/about_us

GFMD Source:

GFMD 2019 - Background Paper RT 3.2 "Harnessing migration for rural development"