MoF signs loan agreement with ADB

Kathmandu: Ministry of Finance has signed a loan agreement with Asian Development Bank. The loan is for the modernization of electric grid in the country.

MoF signed agreement of Rs 18.25 billion.

Issuing a statement, the ministry said that the energy saved from the power grid modernization project can be exported to the neighboring countries.

“This will also help to minimize the energy loss due to power leakage and this will also make positive contribution to the economic contribution,” according to the statement.

The agreement says that this project will finance automation of 40 grid substations, construction of three units of modern 132/11 kV grid substations with automation with 16 km of 132 kV double circuit underground line along Chobhar-Lagankhel-Sinamangal route.

According to the agreement, this project will finance the construction of five km of 66 kV double circuit underground transmission line along Sinamangal-Chabahil in Kathmandu valley.

Photo source: Ministry of Finance Twitter page