Govt signs Rs 14.16 b loan agreement with JICA for 140 MW Tanahun hydropower

The government Wednesday signed an agreement with Japan International Cooperation Agency (JICA) for Rs 14.168 billion loan assistance for the construction of Tanahu Hydropower Project.

The agreement was signed and exchanged between Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division (IECCD) of the Ministry of Finance and Masataka Nakahara, Director General, South Asia Department, JICA amid a function held at the Ministry of Finance, a press statement issued by JICA said,

The loan will be used for construction of a reservoir hydropower plant (140MW) in Tanahu district, which will boost the current power generation capacity in Nepal by 20 percent.

The project is being co-financed by the Asian Development Bank (ADB), the European Investment Bank and the Abu Dhabi Fund for Development. Among them, JICA is the largest partner and the first to sign the loan agreement. nepalnews.com