Nepal Lands €55M EIB Loan For Hydropower Plant

Law360, Los Angeles (May 7, 2013, 5:16 PM EDT) -- The Federal Democratic Republic of Nepal has been granted a €55 million ($74 million) loan to finance the construction and operation of its 140-megawatt Tanahu hydropower plant, the European Investment Bank announced Tuesday.

The EIB says the finance contract for the plant was signed Tuesday in Kathmandu by EIB Vice President Magdalena Alvarez Arza and Nepalese Finance Secretary Shanta Raj Subedi. The signing took place exactly a year after the signature of the framework agreement between the EIB and Nepal in a ceremony held in Kathmandu...
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