ADB approves $311 million loan to update Nepal's power infrastructure

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ADB approves $311 million loan to update Nepal's power infrastructure

November 05, 2024
Updated: 04:26 pm

ADB approves $311 million loan to update Nepal's power infrastructure

Manila, Nov 5 : The Asian Development Bank (ADB) on Tuesday said it approved a loan of $311 million to modernise electricity transmission and distribution infrastructure in Nepal.

The ADB said the project will finance 290 km of power transmission lines in Nepal, promising to expand, reinforce, and rehabilitate electricity distribution infrastructure in relevant areas, Xinhua news agency reported.

The project is also expected to help the Nepal Electricity Authority upgrade its training centre, expand the smart meter rollout program, establish a data recovery centre, and implement a supervisory control and data acquisition network.

The ADB will also provide an additional $30 million in grants from its Asian Development Fund, which offers grants to ADB's poorest and most vulnerable developing members.

/IANS

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