Kathmandu. Kathmandu: NMB Bank Limited has signed an agreement with Mandakini Hydropower Limited for the construction of 2.9 MW Upper Sardi Khola Hydropower Project to be constructed at Machhapuchhre Rural Municipality in Kaski district.
The total estimated cost of the project is Rs 661.89 million while NMB Bank will invest Rs 463.325 million.
Chief Executive Officer of NMB Bank Gobinda Ghimire urged the bank to complete the project within the stipulated cost and time frame. Similarly, Chairman of Mandakini Hydropower Limited Sharad Kumar Dahal thanked the bank for its financial support and pledged to complete the project within the stipulated time. He also said that he would cooperate with the local government to take the project forward.
Prior to this, the 4 MW Sardi Khola Hydropower Project promoted by the same company has been in commercial production since December 1, 2018. The project was also funded under co-financing under the leadership of NMB Bank.
As per the directives of Nepal Rastra Bank, NMB Bank has already implemented environment and social management system to manage the potential impact of the project by adopting environmental and social policies.
Nmb Bank currently operates through 202 branches, 187 ATMs and 9 extension counters across the country.
