Chinese bank assists Rs 170m loan

KATHMANDU, Aug. 17: The Export-Import Bank of China has agreed to provide a loan assistance of Rs 1.7 billion) to the government of Nepal for the implementation of Kathmandu 220 KV Transmission Line and 132 KV Bay Extension Works Project of the Upper Trishuli III ‘A’ Hydropower Project.



The Framework Agreement and Government Concessional Loan Agreement amounting 640 million Yuan were concluded in February, 2011. [break]



The Upper Trishuli III ‘A’ Hydropower Project is expected to generate 60 MW and is under construction with the loan assistance of Chinese government through the Export-Import Bank of China.



The Executing Agency and the Implementing Agency of the Project are Ministry of Energy and Nepal Electricity Authority, respectively. The Upper Trishuli III ‘A’ Hydropower Project is expected to be completed by May, 2014.



The Framework Agreement was signed and exchanged today in the capital by the Finance Secretary, Krishna Hari Baskota and Chen Jian, Vice Minister, Ministry of Commerce, and the Loan Agreement was signed by Baskota and Li Jun, Vice President, Export-Import Bank of China in presence of the Prime Minister, Jhala Nath Khanal, and high-level Chinese Delegation team at the Office of the Prime Minister.



The government of Nepal has expressed its sincere appreciation to the Chinese government and the Export-Import Bank of China for this assistance, stated the Ministry of Finance by issuing a press release.

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