KATHMANDU: Civil Bank has signed an agreement with Bungal Hydro Pvt Ltd for consortium financing.

The estimated cost for the construction of 10.70-megawatt project is about Rs 1.81 billion and around 75 per cent of the cost would be provided through consortium financing.

The project is located at Kafalseri and Pipalkot VDCs of Bajhang district. The promoters of this project have successfully completed hydropower project of 14.9 MW in Panchthar district.