Kathmandu, June 4: A bilateral financing agreement has been signed for the development of the 166 MW Super Tamor Hydropower Project under the lead consortium of Global IME Bank Limited. The agreement was signed between the project’s promoter, Crystal Power Development Pvt. Ltd., and a consortium of participating banks.
The agreement was signed in the presence of Global IME Bank Chief Executive Officer Surendra Raj Regmi, with signatures from the bank’s Deputy Chief Executive Officer Deep Chandra Regmi, Crystal Power Development’s Chief Executive Officer Krishna Prasad Acharya, and representatives of the co-lead and participating banks.
The project, which has an estimated total cost of Rs 25 billion, will receive approximately Rs 19 billion in financing from a consortium led by Global IME Bank, with co-lead banks Siddhartha Bank, Laxmi Sunrise Bank, Prabhu Bank, Agricultural Development Bank and Nepal SBI Bank.
Under the financing arrangement, Global IME Bank will contribute Rs 5 billion, Siddhartha Bank Rs 4 billion, Laxmi Sunrise Bank Rs 4 billion, Prabhu Bank Rs 3.5 billion, Agricultural Development Bank Rs 1.5 billion, and Nepal SBI Bank Rs 1 billion.
Speaking after the signing ceremony, CEO Surendra Raj Regmi expressed confidence that the project would be completed within the stipulated timeframe, contributing significantly to Nepal’s electricity generation capacity and supporting energy exports. He also extended his best wishes for the successful implementation of the project.
The 166 MW hydropower project will be constructed on the Tamor River in Phaktanglung Rural Municipality of Taplejung district.
According to the financing agreement, banks will provide 75 percent of the project’s investment, while the remaining 25 percent will be mobilised from the promoters and other investors. The project is expected to be completed within five years from the commencement of construction.
Know about Global IME Bank
Global IME Bank, Nepal’s first private-sector commercial bank with a branch network across all 77 districts, has received numerous national and international awards. These include Bank of the Year 2014, Best Internet Bank 2016, Best Bank Nepal 2024, 2025 and 2026, Euromoney Award for Excellence 2022, 2024 and 2025, Best Bank ESG Nepal 2024, and Best Employer awards.
The bank currently operates more than 1,000 service points, including 344 branch offices, 385 ATMs, 147 branchless banking services, 69 extension and revenue collection counters, and three overseas representative offices.
In addition to providing banking services throughout Nepal, Global IME Bank also facilitates remittance inflows from countries including the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, India and Jordan, among others.
