KATHMANDU, NOVEMBER 2
The Asian Development Bank (ADB) has expressed its commitment to invest in the 635-megawatt Dudh Koshi reservoir-type hydropower project.
A team consisting of Executive Director of the Nepal Electricity Authority (NEA), Kul Man Ghising, ADB Director General Ramesh Subramaniam, and ADB-Nepal Resident Mission Director Arnaud Cauchois conducted an on-site inspection of the project.
The team inspected the reservoir area and the powerhouse area, and also engaged with local representatives at Rabuwa Bazaar in Khotang, the site of the dam.
Director General Subramaniam stated that the on-site visit by this high-level team is one of the final inspections, and financial management will soon be overseen under ADB's leadership.
He emphasized the need to expedite the project's construction by addressing technical, environmental, and social aspects as quickly as possible. The estimated cost, including interest during the construction period, for the project is $2.20 billion.
A total of $1 billion will be invested in the project by various international financial organizations under ADB's leadership. ADB has committed to providing a $550 million loan for the project.
Similarly, ADB Nepal Resident Mission Director Arnaud mentioned that they have been actively working to expedite the decision-making process and have engaged in frequent discussions with the government of Nepal.
He urged the local community to exercise patience, as Dudh Koshi is a mega project and the largest dam project in the SAARC region to date