Kathmandu, June 11

The Ministry of Energy, Water Resources and Irrigation (MoEWRI) has finalised the projects that are linked with the Belt and Road Initiative (BRI) and which will be discussed with the concerned Chinese authorities during Prime Minister KP Sharma Oli’s state visit to the northern neighbour that starts on June 19.

The MoEWRI has forwarded the final list of the projects that will be on the agenda to the Ministry of Foreign Affairs (MoFA). The Energy Ministry has included seven hydropower projects and six high-voltage transmission lines in the list.

The MoEWRI has included the much talked about hydropower projects like 1,110-megawatt Sunkoshi II, 762MW Tamor, 536MW Sunkoshi III, 450MW Kimathanka Arun, 426MW Phukot Karnali, 426MW Nalgadh and the 245MW Naumure project.

Likewise, the list forwarded to MoFA also includes high-voltage transmission lines like 400kV Galchi-Rasuwagadi-Kyirong transmission line, 400kV Koshi corridor, 400kV Karnali corridor, 400kV Pushpalal Mid-Hill Highway, 400kV Madan Bhandari Highway and the 765kV Butwal-Attariya-Mahendranagar transmission lines.

The pre-feasibility study of the Galchi-Rasuwagadhi-Kyirong cross-border transmission line has already been conducted by a joint team of Nepal Electricity Authority and State Grid Corporation of China. The joint team has submitted the report of this project to the respective authorities of both the governments.

The Cabinet meeting on Sunday decided to establish energy cooperation with the Chinese government and handed over the responsibility to sign the memorandum of understanding titled ‘Nepal-China Cooperation on Energy Sector’ to MoEWRI Minister Barshaman Pun. Till date, the government has not yet established energy cooperation with China. Earlier, the Chinese state-owned National Energy Administration of China had proposed to MoEWRI to establish an energy cooperation mechanism
between the two neighbours.

According to Dinesh Kumar Ghimire, spokesperson for MoEWRI, the MoU regarding energy cooperation with China will probably be signed during PM Oli’s upcoming China visit. “The Cabinet approved the proposed MoU on Sunday. It comprises construction of cross-border transmission lines and creation of an investment-friendly environment in the area of energy, water resources and
irrigation in both the countries,” he informed.

“The MoU also talks about establishing a secretary- and joint-secretary-level intergovernmental mechanism to continue negotiations in the energy sector.”

In fact, Nepal already has energy sector-related sectary- and joint-secretary-level intergovernmental mechanism with India, which holds regular discussions on energy cooperation.

“We have forwarded the list of projects to MoFA and we are expecting agreements on large scale hydropower projects and transmission lines to be signed during PM Oli’s visit,” said Ghimire, adding that it will depend on the willingness of the Chinese government.

Source: MoEWRI

KATHMANDU: The Community Homestay Network (CHN), a renowned company operating in line with the spirit of sustainable and responsible tourism in Nepal, has been selected by Booking.com as among top 10 world start-ups in sustainable tourism for 2018, and has been awarded with a grant of 225,000 euros from Booking Booster Programme.

CHN is a network of community homestays in Nepal, which connects global travellers with the real faces of Nepal to facilitate authentic Nepali experience about Nepali culture and traditions while benefiting local communities all over Nepal.

CHN is also supporting women empowerment in 13 communities of Nepal.

KATHMANDU: Nirdhan Utthan Bank Ltd (NUBL) has signed a mandate with International Finance Corporation (IFC), a member of World Bank Group, for a loan.

The agreement was signed between Janardan Dev Pant, chief executive officer of NUBL, and Mohammad Rehan Rashid, resident representative of IFC, as per a press release.

The loan from IFC is subject to approval from Nepal Rastra Bank. NUBL has been extending financial services and social awareness to the poor in under-served areas of Nepal in a sustainable manner, and IFC loan shall be mobilised to further broaden outreach of NUBL to expand lending to underserved segments and areas.

KATHMANDU: Civil Bank has launched ‘Chandra Surya Bachat Khata’, a savings scheme through which the bank will provide 10 per cent interest.

With minimum balance of Rs 10,000, the accountholders will be provided internet banking, ATM card, cheque book, SMS banking service, mobile banking service for free and cent per cent discount on annual locker service fee along with accidental insurance coverage of up to Rs 500,000 for free, as per a press statement.

Also, the bank has introduced annual interest of 12.22 per cent on 222-day fixed deposit scheme, for which the minimum balance should be Rs 300,000.