World’s top lenders join hands to build 670MW Dudhkoshi
Summary
Nepal's government and top international lenders including the World Bank and Asian Development Bank are collaborating to develop the 670MW Dudhkoshi Storage Hydroelectric Project, with financial closure expected by September.
Key Points
- The Dudhkoshi Storage Hydroelectric Project will have a capacity of 670 megawatts and is located across Khotang, Okhaldhunga, and Solukhumbu districts in Nepal.
- Major international lenders including the World Bank, ADB, AIIB, EIB, OFID, and SFD are jointly investing $2.32 billion in the project.
- Financial approvals and loan closures for the project are targeted to be completed by September 2024, with the ADB leading financing arrangements.
- The project involves significant environmental and social risks, including land acquisition affecting over 3,300 households and biodiversity concerns in a seismically active Himalayan region.
