Kathmandu, Mar. 18
A consortium of four banks
and financial institutions led by Nepal Bank Limited (NBL) is investing Rs.
2.52 billion in Thulo Khola Hydroelectricity Project in Myagdi district.
The 21.3 megawatt project
with a total investment of Rs. 3.6 billion has reached the financial closure
for the development with the signing of the syndicated credit facilities
agreement (SCFA) consortium agreement with the BFIs.
NBL is investing Rs. 751.2
million in the project while Rastriya Banijjya Bank is mobilising Rs. 660 million,
Siddartha Bank Rs. 640 million and Sunrise Bank Rs. 470 million.
Dr. Badri KC of Samyukta
Urja Pvt. Ltd, the developer of the project, and NBL’s Acting Deputy Chief
Executive Officer Samata Pant signed the agreement at a programme attended by
the representatives of other three banks.
Speaking on the occasion,
Pant said that the banks have analysed the economic, technical and risk factors
of the project before reaching the decision to invest in the project. “We are
sure that the depositors’ money would be well utilised in the project. It has
tested and experienced investors so I am confident that the project would be
completed in time,” she said.
The developers of the Thulo
Khola Hydro have already completed the development of Daram Khola
Hydroelectricity which is generating power now.
Dr. KC appreciated the
process of the banks for their quick decision and said that the project would
be developed as a model project and completed in time.
NBL
opens 205th branch
Nepal Bank Limited has
opened its 205th branch in Narayan Municipality-1 of Dailekh
district. Chairman of the bank’s Board of Directors Madhu Kumar Marasini and
Mayor of the Municipality Ratna Bahadur Khadka jointly inaugurated the branch
amidst a programme the other day.
Marasini said that the bank
would put its efforts to offer simple and easy banking service in a competitive
way and would play a role in the prosperity of the district.
Mayor Khadka said that NBL
was the first bank to open its branch in the district in the past and hoped for
sustained service in the days to come.
Chief Executive Officer of
the bank Krishna Bahadur Adhikari informed about various products of the bank
and urged the locals to utilise them.
Published in The Rising Nepal daily on 19 March 2021.
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