Kathmandu. NMB Bank and Khimti-Ghwang Small Hydropower Project (9 MW) have signed a loan agreement of Rs 1.24 billion on July 26.
The agreement was signed by Dinesh Dulal, Head of Department of Sustainable Energy Banking on behalf of NMB Bank and Prakash Chandra Dulal, Managing Director of the company. The company is constructing the Khimti-Ghwang Hydropower Project on the border of Jiri Municipality-1 of Dolakha and Gokulganga Rural Municipality-1 of Ramechhap.
The Cabinet on April 29 decided to acquire government land for the project and allow the felling of trees, and the construction of all the required land for the project, construction power connection, construction of access road, construction house, residential building etc. has been completed.
According to Dulal, managing director of the company, an agreement has been reached with NMB Bank for loan of Rs 1.24 billion, out of the remaining Rs 560 million, Rs 350 million has already been raised and works are underway to raise Rs 300 million by mid-October. According to him, the project will be the first hydropower project to be constructed in Nepal by meeting the social and environmental parameters by following hydro select tools.
