Kathmandu, Nov 2: The Asian Development Bank (ADB) has expressed its commitment to invest in the 635-megawatt Dudh Koshi reservoir type hydropower project.
A team comprising Executive Director of the Nepal Electricity Authority (NEA) Kul Man Ghising, ADB Director General Ramesh Subramaniam and ADB-Nepal Resident Mission Director Arnaud Cauchois carried out onsite monitoring of the project.
The team inspected reservoir area and the power house area. It also interacted with people’s representatives of local levels at Rabuwa bazaar of Khotang, the dam site.
Saying the on-site visit by the high-level team to forward the project is almost the last inspection, Director General Subramaniam shared that financial management is going to be made soon under ADB’s leadership.
He pointed out the need of starting construction of the project by taking the technical, environmental and social aspects to conclusion as soon as possible. The estimated cost including interest of the construction period of the project is 2.20 US Dollar.
Total one billion US Dollar would be invested from different international financial organisations under ADB leadership in the project. Of it, the ADB has expressed commitment of 550 million US Dollar loan investment in the project.
Similarly, ADB Nepal Resident Mission Director Arnaud mentioned that they have been actively working to accelerate the decision process and have been involving in talks with government of Nepal frequently.
He urged the local community to adopt forbearance as Dudh Koshi is a mega project and largest dam project of SAARC region so far.