Asian Development Bank To Provide Additional Loan Of Rs 7.20 Billion
September 21, 2021 | Investopaper
Asian Development Bank (ADB) will provide an additional loan of more than Rs. 7.20 billion to Nepal for upgrading transmission lines and distribution systems. The bank has stated that the loan will be provided for the power grid modernization project being implemented with the assistance of ADB.
A statement issued by the bank on Monday said the loan had been approved.
Under the modernization project approved in November 2020, 34 grid substations will be automated, smart meters will be connected in Kathmandu Valley, 144 km transmission line will be upgraded and an additional 113 km line will be constructed and a power distribution system control center will be established.
The additional loan assistance provided by ADB will make the power supply system in Nepal reliable, effective, and sustainable. It will provide additional investment to expand and modernize the transmission capacity and distribution system. The assistance would also help in achieving the target of increasing per capita electricity consumption to 700 kilowatts by 2026.
