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Nepal Accepting IDA Loans And Grant For Transmission Line
By KTM Metro Reporter
August 9, 2013: at the meeting held yesterday, the Council of Ministers decided to accept the loan of US dollars 37 million (approximately Rs. 3.52 billion) and the grant of two million US dollars from the International Development Agency of the World Bank for the additional investment in the construction of Nepal-India Electricity Transmission Line and Trade Project, according to the RSS news posted on ‘gorkhapatraonline.com.’
The Council of Ministers also delegated all rights to the Ministry of Finance to sign off the agreement on this loan and grant, said Spokesperson for the Government also Minister for Information and Communications Madhav Poudel.
The government in turn would provide the loan to the Nepal Electricity Authority (NEA) while the government would invest the grant amount in the NEA as its share.
The Council of Ministers also decided to form a team of Nepalese delegation to hold talks with the Asian Development Bank (ADB) about the grant assistance of US dollars 21 million (approximately Rs. 2.04 billion) from the Bank for preparations of the Energy Sector Projects.
