Citizens Bank to lead a consortium of 3 banks funding 10.30 MW Lower Peluwa Khola project; consortium to lend Rs 1.32 arba to Sankhuwasabha based hydro project

Citizens Bank has completed a financial closure process to fund the 10.30 MW Lower Peluwa Khola hydro project located at Sankhuwasabha district.

The financial closure was concluded under a consortium of three banks, Citizens Bank, Nepal Investment Bank, and Prabhu Bank led by the former that totals Rs 1.32 arba or 70% of the estimated project cost.

As per the understanding, Citizens Bank will be lending Rs 65 crore, Nepal Investment Bank will lend Rs 42 crore whereas Prabhu Bank will lend Rs 25 crore to the project that will be built by River Falls Power company, as per the media statement.