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$453.2m pact signed to develop hydropower project in Nepal

Christian Fernsby |
The Nepal Water and Energy Development Company (NWEDC) inked a financing agreement with nine international lenders for loan financing of Upper Trishuli-1 (UT-1) Hydropower Project amounting to $453.2 million.


Those lenders are International Finance Corporation (IFC), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Export-Import Bank of Korea (K-EXIM), Korea Development Bank (KDB), CDC Group PLC (CDC), Netherlands Development Finance Company (FMO), PROAPRCO Development Financial Institution (PROPARCO) and the OPEC Fund for International Development (OFID).

NWEDC is the developer of the 216-megawatt project in Rasuwa district. The loan amount signed with IFC is $161.3 million; $60 million with ADB; $39.6 million with AIIB; $100 million with K-EXIM; $30.8 million with KDB; $21.9 million with CDC; $15.4 million with FMO; $11 million with PROPARCO and $13.2 million with OFID.

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