• Monday 19th August 2019

EIB to support in Nepal’s development

  • Published on: April 22, 2018



  • Kathmandu, 23 April: The European Investment Bank has expressed commitment to support alternative energy and rural road expansion projects in Nepal.

    Angela Marcarino, Head of Lending Division, Asia Pacific, European Investment Bank, who is on a week-long visit to Nepal, expressed this commitment during a meeting with Chief of International Economic Cooperation Coordination Division of Finance Ministry, Kebal Bhandari, on Sunday. Many news media have picked this news from National News Agency (RSS).
    According to RSS dispatch, Marcarino said that the Bank could invest in physical infrastructure projects like hydropower, alternative energy and rural roads.
    Meanwhile, Managing Director of Nepal Electricity Authority, Kulman Ghising, organised a programme in honour of Marcarino.On the occasion, Ghising said that the Bank has provided Rs 20.50 billion loan for Chilime-Trishuli 220 kv Transmission Line Project, Trishuli 3B Hub Substation Project, Marshayngdi Corridor 220 kv Transmission Line Project, Samundratar-Trishuli 3B Hub 132 kv Transmission Line project, 140 MW Tanahu Hydro Power Project, rasuwa Nuwakot Distribution System Reconstruction and Improvement Project, Lekhnath-Damauli 220kv Transmission Line Project and Load Dispatch Centre Modernization Project.

    European Union, JICA, Asian Development Bank and German Embassy have extended financial support to NEA executing projects in generation, transmission and distribution.
    Saying EU and KfW Development Bank have provided 58 million US dollar for the projects as a grant, he expressed commitment to complete all projects in the slated timeframe.
    Likewise, Development Cooperation Head of EU Delegation, Andrez Rotger said that infrastructure development like energy and road networks are essential for overall development of Nepal. He also expressed commitment that the EU would provide possible support for socio-economic projects prioritized by the government of Nepal

    People’s News Monitoring Service

     

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