China to provide grants for Nepal hydro projects

China will assist Nepal in various development projects including hydro power plants.

A loan assistance of RMB 640 million  for the construction of Upper Trisuli 3A Hydropower Project has been signed between the government of China and the government of Nepal.

Fu-Ziying, visiting vice Minister of Commerce of the government of China and Rameshore Prasad Khanal, secretary of the Ministry of Finance signed the agreement on behalf of their respective governments.

The amount will be provided through the Export-Import Bank of China

The project capacity of 60 MW is expected to help reduce power deficit from the present power crisis across the country and the construction work is also expected to be completed within four years, according to press release.

The project located in Rasuwa and Nuwakot districts of Bagmati Zone also all set to be executed by the Nepal Electricity Authority.