Kathmandu. KATHMANDU: Global IME Bank has signed a bilateral agreement for the development of 166 MW Super Tamor Hydropower Project. An agreement has been signed between the project promoter company, Crystal Power Development, and participating banks for the financial management of the project.
The agreement was signed by the bank’s associate chief executive officer Deep Chandra Regmi and chief executive officer of Crystal Power Krishna Prasad Acharya in presence of Surendra Raj Regmi, CEO of Global IME Bank. Global IME Bank, Siddhartha Bank, Laxmi Sunrise Bank, Prabhu Bank co-led and Agricultural Development Bank and Nepal SBI Bank will invest around Rs 19 billion in the project.
Global IME Bank will invest Rs 5 billion, Siddhartha Bank Rs 4 billion, Laxmi Sunrise Bank Rs 4 billion, Prabhu Bank Rs 3.5 billion, Agricultural Development Bank Rs 1.5 billion and Nepal SBI Bank Rs 1 billion.
After the signing of the agreement, Global IME Bank’s CEO Surendra Raj Regmi said that the completion of the project will be completed within the deadline and will contribute to the export promotion of power in the state. He extended best wishes for the project.
The 166-megawatts hydropower project will be constructed in Tamor River at Faktanglung Rural Municipality of Taplejung district with an estimated cost of Rs 25 billion. As per the agreement, the bank will invest 75 percent of the total amount and the remaining 25 percent will be managed by the promoters and other investors. The project will be completed within 5 years from the start of construction.
Global IME Bank has been honored by various national and international organizations in different categories. The bank has been the recipient of many prestigious awards including Bank of the Year 2014, Best Internet Bank 2016, Best Bank Nepal 2024, 2025 & 2026, Euro Money Award for Excellence 2022, 2024 & 2025, Best Bank ESG Nepal 2024, Best Employer etc.
Global IME Bank is the first commercial bank in the private sector with branches in seventy-seven districts of the country. The bank has been providing its services through a network of 344 branches, 385 ATM outlets, 147 branchless banking units, 69 extension and revenue collection counters and 3 foreign relations offices.
Apart from providing banking services to Nepalese citizens, the bank has been providing remittance services to various countries of the world. The bank has been receiving remittances from the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan and other countries.
