Kumari Bank to lead consortium of 5 banks funding 48.50 MW Upper Rahughat Hydro project; consortium to lend Rs 5.81 arba to Myagdi based project

Kumari Bank has completed a financial closure process to fund 48.50 MW Upper Rahughat hydro project located at Myagdi district after signing a financial closure related agreement with Tudi Power Hydro Company.

The financial closure was concluded under a consortium of five banks, Global IME Bank, Siddhartha Bank, Nepal Credit and Commerce Bank and Machhapuchchhre Bank led by Kumari Bank that totals to 5.81 arba of the estimated project cost of Rs 8.30 arba, as per the media statement.

The bank currently provides its services from its 192 branches, 162 ATM outlets, 22 branchless banking units and 13 extension counters.