NMB Bank leads financing for 24.8 MW Bajra Madi Hydropower Project
NMB Bank has already invested in over 50 hydropower projects across Nepal, reflecting its continued commitment to the country’s renewable energy sector.
KATHMANDU: A financial closure agreement has been reached among NMB Bank Ltd., Krishi Bikas Bank Ltd., and Bajra Energy Ventures Pvt. Ltd. for the development of the 24.8 MW Bajra Madi Hydropower Project, located in Madi Rural Municipality, Kaski District.
NMB Bank Ltd. will serve as the lead bank for this project. The total estimated cost of the project is Rs 5.35 billion, out of which Rs 3.745 billion will be financed through debt provided by participating banks and financial institutions.
NMB Bank has already invested in over 50 hydropower projects across Nepal, reflecting its continued commitment to the country’s renewable energy sector.
In a related development, another company under the same group, Vision Lumbini Energy Company Ltd., has successfully commenced commercial production from the 25 MW Seti River Hydropower Project.
Located in Annapurna Rural Municipality and Pokhara Metropolitan City of Kaski District, the project began generating electricity commercially on Kartik 27, 2081 at 12:00 noon.
The project was also financed under the leadership of NMB Bank Ltd., in partnership with the Employees Provident Fund and Agricultural Development Bank Ltd.
In line with the Environmental and Social Risk Management (ESRM) Guidelines 2022 issued by Nepal Rastra Bank, NMB Bank has adopted an Environmental and Social Policy and has implemented a comprehensive Environmental and Social Management System (ESMS) to ensure sustainable and responsible financing practices.
