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अन्तराष्ट्रिय आर्थिक सहायता समन्वय महाशाखा

Agreement with Kuwait Fund for Arab Economic Development

Jan 16, 2017
Kuwait Fund has agreed to provide a loan assistance of KD 5 million equivalent to the US $ 18 million to the GoN for the implementation of Budhi Ganga Hydropower Project.
Kuwait Fund for Arab Economic Development (Kuwait Fund) has agreed to provide a loan assistance of KD 5 million equivalent to the US S 18 million (approximately NRs 1 billion 5 hundred 57 million) to the Government of Nepal for the implementation of Budhi Ganga Hydropower Project. An Agreement to this effect was signed and exchanged at the Ministry of Finance, Kathmandu, Nepal.

It is located in the Achham District in far western development region. The project will generate 20 MW of electricity. The main objective of this project is to help the local people explore new opportunities through a better electricity supply and to support the government of Nepal to mitigate the regional disparity. The feasibility study of the project was completed by Nepal Electricity Authority in November, 1998 however due to. various circumstances it wasn't, materialized. Expansion of rural electrification, generation of new employment opportunities, increment in economic activities at the local and regional level are other desired impacts of the projects.

The Loan Agreement was signed by Mr. Madhu Kumar Marasini, Joint Secretary and Chief of the International Economic Cooperation and Coordination Division, Ministry of Finance and Mr. Hesham Al-Waqayan, Deputy Director General, Kuwait Fund for Arab Economic Development on behalf of the Government of Nepal and Kuwait Fund, respectively.