KATHMANDU, OCTOBER 29
The Asian Development Bank (ADB)’s venture capital arm ADB Ventures has provided the Good Bricks System, a non-fired brickmaking solution in Nepal, a $125,000 (equivalent to Rs 14.7 million) grant to reduce the industry’s harmful impact on the environment and health.
The grant gives ADB Ventures the option to make a future equity investment in the Good Bricks System. South Asia is home to nearly a quarter of total global brick production.
Demand for bricks is being fueled by rapid urbanization and the need to construct housing and transport infrastructure.
In Nepal, traditional brickmaking requires approximately 1,600 kilns to burn nearly 1 million tons of coal every year.
It causes around 600 annual deaths, adding $46 million every year to public health costs, the ADB said.
The Good Bricks System, a product of InnoCSR Co. Ltd., uses materials technology from the Republic of Korea to make high-quality bricks with soil, soil stabilizer, and cement.
It is cost-competitive and reduces production time by six-fold. It also cuts greenhouse gas emissions and improves working conditions for employees, many of whom are women.
“The Good Bricks System is an opportunity to disrupt an industry that has not changed for many years, but