Kathmandu. The World Bank is going to raise the investment for the 1,61 MW Upper Arun Half Reservoir Project within one year.
The World Bank has pledged to invest 500 million dollars in Upper Arun, and in addition to that, the World Bank is going to raise another 300 million dollars within the year 2023.
The World Bank, which is conducting the DDA of the company, is discussing with various financial institutions to raise investment and has committed to raise investment, according to the Upper Arun Hydroelectric Project.
Similarly, under the leadership of the Hydro Electricity Investment and Development Company owned by the Government of Nepal, seven different banks and financial institutions of Nepal are going to invest 53 billion rupees.
National Commercial Bank, Nepal Bank, NMB Bank, Employees Provident Fund, Citizen Investment Fund and Agricultural Development Bank will invest the amount.
In the project estimated to be 2 trillion 14 billion total investment, 97 billion from the World Bank and the European Development Bank, 53 billion under the leadership of HIDCL and 32 billion from the IPO have been allocated in such a way that the investment will remain 64 billion.
Construction of a 21 km road leading to the project site to be constructed in Sankhuwasabha is currently underway.
This project, which aims to be completed within the year 2030, can carry a large load in winter.
