Banking News – NMB Bank has signed an agreement to invest Rs. 1.24 billion in the Khimti-Ghwang Small Hydropower Project.

The loan agreement was signed on Tuesday between NMB Bank and the project’s promoter company. The agreement was signed by Dinesh Dulal, Head of the Sustainable Energy Banking Department at NMB Bank, and Prakash Chandra Dulal, Managing Director of the promoter company.

According to the company, the total estimated cost of the project is Rs. 1.80 billion, of which NMB Bank will provide Rs. 1.24 billion in financing. Of the remaining Rs. 560 million, Rs. 350 million has already been secured, while the balance is expected to be raised by mid-October.

The company stated that Cabinet approval for the acquisition of required government land and tree-felling permits was obtained on Baisakh 15. It also confirmed that all land acquisition, access road construction, warehouse facilities, staff accommodation, and temporary construction power connections have already been completed.

According to NMB Bank, it is acting as the sole lender for the hydropower project, reaffirming its commitment to supporting Nepal’s renewable energy sector through sustainable financing initiatives.