IFC provides funds for Nepal hydroelectric project development

Nepal Map

The International Finance Corporation has reportedly pledged to provide US$6 billion in financing for the development of hydroelectric power projects in Nepal.

The deal was brokered during a recent meeting between IFC executive vice president Jin-Yong Cai and Nepal's Minister of Finance Ram Sharan Mahat at the World Bank's headquarters in Washington, D.C.

The IFC funds will help Nepal develop a number of unspecified hydropower projects that will have a combined output capacity of around 3,000 MW, reports said. The power will be used not only in Nepal, but also exported to neighboring countries.

Also in Nepal, HydroWorld.com reported in March that the country's Hydropower Development Board had given its clearance for construction of the 49.6-MW Super Dordi Kha plant.

The country is also examining the feasibility for a pair of pumped-storage projects to be located along its Sunkoshi River. (2)

For more news from Asia, visit here.

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