WB to provide US$ 39m for Nepal-India transmission line
The International Development Association (IDA) of the World Bank (WB) Group has agreed to provide additional financial assistance of US$ 39 million (approximately Rs 4 billion) to Nepal for the implementation of Nepal-India Electricity Transmission and Trade Project (NIETTP).
The agreement to this effect was signed between Madhu Kumar Marasini, joint secretary at the Ministry of Finance (MoF) and Tahseen Sayed, country manager of WB amid a function in the capital on Wednesday.
Of the total agreed assistance, US$37 million is loan assistance and US$2 million is grant.
The assistance will be utilised in the development of transmission line project between Nepal and India to reduce power outage.
The IDA has also already provided US$99 million for the project. The project has been under construction since 2011. nepalnews.com