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IDA Provides Nepal With US$ 39 million
By KTM Metro Reporter
September 12, 2013: the International Development Association (IDA) of the World Bank Group has agreed on providing Nepal with an additional assistance of US$ 39 million equivalent to Rs. 4 billion for the Nepal-India Electricity Transmission and Trade Project (NIETTP); out of the total amount of US $39 million, US $ 37 million is the loan and $2 million is grant, according to news on ‘gorkhapatraonline.com’.
On behalf of the government of Nepal, joint secretary to Ministry of Finance Madhu Kumar Marasini, and on behalf of IDA country manager of the World Bank Tahseen Sayed signed off the agreement in Kathmandu yesterday.
The objective of the project is to facilitate export and import of electricity to and from India and to reduce extreme power shortage especially in the dry season, a press statement issued by the Ministry of finance stated.
The project also aims at exporting the surplus power in the wet season, and import during the dry season when the rivers dry up to some extent and not have sufficient water to produce hydropower in the full scale.
The NIETTP had been under construction since 2011 and IDA had already provided US $ 99 million to this project.
The project meets the requirement of high voltage (400 KV) transmission Lines across the border between Nepal and India. The completion of the project enables Nepal to exchange high voltage power across the border as per need.
The project has three main components: Dhalkebar-Muzaffarpur 400 KV Transmission Line, Hetauda-Dhalkebar-Duhabi Transmission Lines, and Substations synchronization of Nepal and Indian grids.
