Kathmandu, June 17: The NMB Bank Ltd. and the Kang Hydropower Company have inked an agreement for the financial management of the Upper Mewa Khola Hydropower Project with a capacity of 17.85 MW, in the Taplejung district.

Dinesh Dulal,  Chief, Sustainable Energy Banking of the NMB Bank and Ganesh Prasad Subba, Managing Director of the Kang Hydropower Company inked the agreement for financial management.

Govinda Ghimire, CEO of the Bank, and Ganesh Prasad Subba, Managing Director of the Kang Hydropower Company, exchanged the loan agreement letter on behalf of the Bank and the Hydropower Company respectively.

Ghimire, CEO of the NMB Bank, urged the company to complete the project within the stipulated cost and time frame and to identify the appropriate solution while building the project, keeping in mind the technical aspects, environmental and ecological aspects.

Subba concluded the program by thanking NMB Bank Ltd. and expressing his commitment to completing the Upper Mewa Khola Hydropower Project within the stipulated cost and time frame.

NMB Bank has so far invested in more than 50 hydropower projects. In accordance with the directive of Environmental and Social Risk Management, 2022 issued by Nepal Rastra Bank.

People’s News Monitoring Service.