Norway grants $60 million to Nepal for power sector expansion
Nepal, Kathmandu: Norway will grant $60 million to Nepal for Power Expansion Project. The project’s lead donor, the Asian Development Bank (ADB), will administer the Norwegian aid.
Nepal, Kathmandu: Norway will grant $60 million to Nepal for Power Expansion Project. The project’s lead donor, the Asian Development Bank (ADB), will administer the Norwegian aid.
The project aims to increase power access and help overcome power shortages in Nepal, reports Ekantipur. Under the power transmission and distribution capacity development component, transformer substations will be constructed, augmented and replaced in various parts of the country.
Also, approximately 45 km of 400 kV transmission lines and 192 km of 220 kV transmission lines along the Kali Gandaki Corridor and the Marsyangdi-Kathmandu route will be constructed.
“We believe that the project will leverage private sector investment and extend access to energy services in Nepal.” said Norwegian Ambassador, Kjell Tormod Pettersen.
The grant from Norway will complement a $180 million loan from the ADB’s concessional resources, a loan of $120 million from the European Investment Bank, and a $11.2 million grant from the ADB-administered Strategic Climate Fund.
Source: Ekantipur
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