Delhi gets little respite from sultry weather New Delhi, Jun 16 (UNI) The national capital on Sunday woke up to a cloudy morning and also received traces of rainfall at several places, bringing little respite from the searing heat. The maximum temperature | PM Modi holds all-party meet ahead of Parliament session | Heat stroke wreaks havoc in three districts, toll rises to 56 | Junior doctors' protest at NRS enters sixth day | Train service resumes in south Kashmir after two days |
AIIB approves first investment in Nepal

AIIB approves first investment in Nepal

India Blooms News Service | @indiablooms | 10 Jun 2019, 05:42 pm

Beijing, June 10 (Xinhua/UNI) The Asian Infrastructure Investment Bank (AIIB)'s Board of Directors has approved a loan of up to 90 million US dollars for a hydropower project in Nepal, its first project in the country.

The Upper Trishuli-1 Hydropower Project will increase the country's power generation by almost 20 percent, helping to reduce acute power shortages in Nepal, according to a statement from the multilateral development bank.


The Upper Trishuli-1 Hydropower Project is a 216-megawatt greenfield run-of-river hydropower plant to be developed on the Trishuli river under a build-own-operate-transfer model.


The AIIB has also provided Nepal with 900,000 US dollars for the proposed Tamakoshi V Hydroelectric Project and one million dollars for the proposed Power Distribution System Upgrade and Expansion Project from its Project Preparation Special Fund which provides grants to support the preparation of projects in eligible AIIB members.


"AIIB's investment will provide much-needed, long-term financing for a vital infrastructure project," said AIIB Director General Dong-ik Lee.
"We are confident that our investment will demonstrate the viability of Nepal's sustainable energy sector to other potential private-sector investors," Lee said.

AIIB approves first investment in Nepal

India Blooms News Service
Comments ()

Post your comment:

Loading...
Web Analytics