Nepal Bank concludes financial closure agreement to fund 57.3 MW Myagdi Khola Hydropower Project in Myagdi; leads consortium of 5 banks
A consortium of five commercial banks led by Nepal Bank has signed a Facilities Agreement with Hydro Village Pvt. Ltd. On Kartik 21, 2079 to finance the run of the river Myagdi Khola Hydropower Project to be constructed at Myagdi District. The consortium consists of Nepal Bank, Mega Bank, Agriculture Development Bank, Employee Provident Fund, and Nepal SBI Bank.
The MoU was signed between Mr. Rameswor Thapa from the hydro company, Mr. Laxman Paudel from Nepal Bank, Mr. Ramkaji Thapa from Mega Bank, Mr. Sudeep Kumar Dahal from Agriculture Development Bank, Mr. Thakur Jung Thapa from EPF and Mr. Manoj Kumar Gautam from Nepal SBI Bank
The banks have committed to financing 75% of the project cost i.e nearly NPR 8.05 arba with the remaining 25% invested through equity, as per the media statement.
