KATHMANDU: Asian Infrastructure Investment Bank (AIIB) is set to invest Rs 16 billion in the Tamakoshi-5 hydro power project.

According to Shree Krishna Nepal, joint secretary at the Ministry of Finance, the AIIB is coordinating with the Ministry of Finance for a loan agreement.

The process of purchase agreement of the hydro project with a 99.8-megawatt will start after two months, added Nepal.