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Financial resources have been assured for the 106 MW Jagdulla hydropower project under construction at Dolpa. Other banks and financial institutions will invest in the project under the leadership of Nabil Bank. Jagdulla Hydropower Company Limited, the promoter of the power project, and Nabil Bank entered into a loan agreement on Wednesday.
In addition, an agreement has also been reached between other banks and financial institutions led by Nabil. It is claimed that the project being built on the Jagdulla river in Karnali under the slogan of the Nepal Electricity Authority, Nepal's water is the people's investment.
The company's Chief Executive Officer (CEO) Sanjay Sapkota said that the group led by Nabil will invest 16 billion rupees for the project with an estimated cost of 23 billion rupees. According to Sapkota, the loan was approved. It has been agreed that Nabil Bank will invest 4.4 billion rupees, Employees' Provident Fund 4 billion rupees, Hydro Electricity Investment and Development Company Limited (HIDCL) 4 billion rupees, Laxmi Sunrise Bank 2 billion rupees and Everest Bank 1.55 billion rupees. According to the target of completion in five years, the project will enter the construction phase. The loan agreement was signed by company CEO Sapkota and bank CEO Gyanendra Dhungana. In the
project, local, state and transmission lines are affected, project employees will invest 49 percent through shares. Sapkota stated that 51 percent of the cost of construction will be 26 from the production company, 10 from the Hydroelectricity Investment and Development Company Limited (HIDCL), 9 from the Electricity Authority, 5 from the Karnali State Government, and 1 percent from Mudkechula and Jagdulla Rural Municipality. There will be 49 percent share of common people, 33 percent of project affected people, 3 percent of transmission line affected people and 3 percent of project employees.
