ADB agrees to provide RS. 2.9 billion for hydropower

काठमाण्डु टुडे २०७० मंसिर १४ गते १२:४८ मा प्रकाशित

Kathmandu, Nov. 29: The Asian Development Bank (ADB) has agreed to provide a grant assistance of US dollars 21 million (equivalent to Rs. 2.9 billion) to the Government of Nepal for the development of hydropower sector.

The Ministry of Finance in a press release issued today said the assistance will be used for the implementation of the Project Preparatory Facility for hydropower projects. An agreement to this end was signed amidst a programme at the Ministry of Finance today.

The objective of the Project is to support the 10-year roadmap for hydropower development with an aim of generating an additional 10,000 megawatt of hydropower. Large reservoir type hydropower projects are said to be helpful to achieve the above mentioned objectives.

The proposed project preparatory facility aims at developing large reservoir storage hydropower projects.

The grant assistance will also be used for environmental examinations, environmental impact assessments and social impact assessments of Sun Koshi 2 (1110 mw), Sunkoshi 3 (536 mw) and update of feasibility study with detail engineering studies of the Dudh Koshi (300 mw) hydropower projects which are expected to be helpful in addressing the problem of energy crisis in the country.

The total cost of the Project is estimated at US dollars 26.25 million and the Nepal Government has to contribute 20 per cent of the total costs mostly in the form of taxes, duties, office accommodations. The project is expected to end by June 30, 2019.

Joint Secretary at the Finance Ministry Madhu Kumar Marasini and ADB Country Director Kenichi Yokoyama signed on the agreement from their respective sides. On the occasion, Joint Secretary Marasini expressed his sincere appreciation to the ADB for this assistance and also for its continued support in the socio-economic development of Nepal. This assistance is significant, he said, urging the concerned executing body (Nepal Electricity Authority) to be serious towards full utilization of the assistance. RSS

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