NMB Bank becomes Lead Financer of Kalanga Hydro

September 8: NMB Bank has successfully executed financial closure of Kalanga Gad Hydroelectric Project having an installed capacity of 15.33 MW. The financial closure of Kalanga Gad Hydroelectric Project places NMB Bank as a fore runner in financing the hydro power project, said the press statement issued by the bank.

The project being developed by Kalanga Hydro is located in Sukunda, Bajh and Khairatadi VDCs of Bajhang District, Seti Zone of Far Western Region of Nepal. “The project under the lead of NMB Bank includes NIC Asia Bank, Civil Bank, Janata Bank Nepal, Deva Bikas Bank and Jyoti Bikas Bank as consortium member banks. The total project cost stands at Rs 2.80 billion out of which Rs 2.10 billion has been managed by the consortium debt,” reads the statement.