Hydro project returns locals’ documents after nine years

Bajura, June 9

Ikadigaad Micro Hydro Project returned the landownership and citizenship certificates of locals after nine years.

The project had taken the documents to avail of bank loan for power generation. The loan was cleared after nine years.

The hydro-power mortgaged the certificates as collateral to withdraw the loan on November 20, 2007.

The certificates were on the verge of being auctioned as the project had failed to clear Rs 8 lakh loan maintained with Agriculture Development Bank.

The total loan including the principle amount and the cumulative interest had reached Rs 1.67 million. The bank waived 80 per cent of interest and the project cleared the bank loan.

Min Bahadur Singh, project chairperson said the loan was cleared as the Constituency Development Fund offered Rs 10 lakh and locals contributed Rs 1,000 per household.

Local Kritam Bahadur Singh said he was elated after his landownership and citizenship certificates were returned almost after a decade.

“We succeeded in electrifying our locality by mortgaging our certificates first and now we have got our documents back after clearing the loan. I am extremely glad,” said another local Sarbajit Shahi.

As many as 300 households have directly benefited from the 30KW hydro project.