Kathmandu, December 30
The Asian Development Bank has agreed to give a loan of Rs 18.25 billion to Nepal for modernising the country’s electrical grid.
An agreement to this effect was signed at the Ministry of Finance on Wednesday. The ministry’s Joint Secretary Shree Krishna Nepal and ADB Nepal Office In-charge Rudi Louis Hendrikus Van Dael signed the agreement.
Joint Secretary Nepal says the Electrical Grid Modernisation Project aims at improving the electricity transmission and distribution system, modernise the electrical grid so as to make the supply sustainable and reliable and improve the capacity of the Nepal Electricity Authority.
The total estimated cost of the project is around Rs 22.81 billion. The remaining funds will be contributed by the government of Nepal and Nepal Electricity Authority.
The project will be implemented by the authority.
