KATHMANDU: The loan agreements for the amount of USD 453.2 million were signed on Friday for the construction of the Upper Trishuli-1 Hydropower Project.

Nepal Water and Energy Development Company Private Limited (NWEDC) signed the financing agreements with International Finance Corporation (IFC), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Export-Import bank of Korea (K-EXIM), Korea Development Bank (KDB), CDC Group PLC (CDC), Netherlands Development Finance Company (FMO), PROAPRCO Development Financial Institution (PROPARCO), and The OPEC Fund for International Development (OFID) for the loan financing of Upper Trishuli-1 Hydropower Project amidst a special signing ceremony organized in Kathmandu on Friday.

The NWEDC  informed that the loan amounts in USD signed with each of IFC, ADB, AIIB, K-EXIM, KDB, CDC, FMO, PROPARCO and OFID are 161.3 million, 60 million, 39.6 million, 100 million, 30.8 million, 21.9 million, 15.4 million, 11 million, and 13.2 million, respectively. The Bank of New York Mellon (BNY) as the Offshore Account Bank and Nepal Investment Bank (NIB) as the Onshore Account Bank were also parties to the agreements.