Separate consortiums to finance two hydropower projects

Separate consortiums of commercial and development banks are financing the Upper Kalangagadh Hydropower Project (38.46 MW) and Kalanga Gadh Hydropower project (15.33 MW). The consortium led by Machhapuchhre Bank Ltd will finance Rs 4.74 billion to develop Upper Kalangagadh project. Rastriya Banijya Bank, Nepal Bank Limited, NCC Bank Limited, Sunrise Bank Limited, Janata Bank Limited, Kumari Bank Limited and Civil Bank Limited are the other lenders in the consortium. Similarly, another consortium led by NIC Asia Bank is financing Rs 2.1 bill ion Kalanga Gadh project. Other lenders in the consortium are Civil Bank, Janata Bank, Dev Bikash Bank and Jyoti Bikash Bank. Source: republica