5 Banks to Provide Consortium Loan to Upper Balephi 'A'

November 13: A consortium loan agreement has been signed for the 36MW upper Balephi 'A' hydropower project under the initiation of Global IME Bank. The bank along with four other banks finalised the agreement with Huwaning Development regarding the consortium loan for the project. Other than Global IME, Sanima, Everest, SBI and NIDC Development Bank is providing the consortium loan to the project.

The project's total cost is estimated to be Rs 6.08 billion cost of which Rs 4.35 billion will be financed by the banks. The power house of the project which is being constructed at Golche and Gumba VDC of Sindhupalchok will be built at Golche. The company has targeted to conclude the project within December 2018.