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Setting Up Hydropower Development Bank In Nepal
By KTM Metro Reporter
June 6, 2011: the government of Nepal has decided to set up a hydropower development bank to fund large hydropower projects in Nepal. The meeting of the Council of Ministers held at the official residence of the prime minister on June 04, 2011 has made a decision on setting up a hydropower development bank in Nepal for funding medium and large hydropower projects, the spokesman for the government has said. The spokesman has said that the government would mobilize national and international resources through the bank for funding hydropower projects to harness the potential hydropower and to end the current energy crisis in Nepal.
Neal has the history of setting up various sorts of development banks and funds but their effectiveness has to be seen. For example, the senior most development bank is Nepal Industrial Development Bank but it has the problem of maintaining its solvency because the politicians and bureaucrats have misused it. The junior most bank might possibly be the poverty alleviation fund but these financial institutions have been working at the mercy of the politicians and the bureaucrats.
One fact is obvious, as along as politicians and bureaucrats have a say on any such organizations these organizations would have difficulty to flourish. So, setting up a hydropower development bank, the energy crisis would not go away as long as the government has any control on any of these development activities the private companies could do better jobs. Let the government and the bureaucrats learn from the history.
