NMB Bank is lead financer of Madame Khola Hydropower

NMB Bank inked the Financial Closure Agreement of Madame Khola Hydropower Project having an installed capacity of 24 MW. The project is located at Madi rural municipality in Gandaki province. The Financial Closure Agreement was signed on August 3 with lead financing from NMB Bank and with NIC Asia Bank, Prabhu Bank and Employees Provident Fund as Consortium Member Banks and Financial Institution. The Nepal Electricity Authority has already facilitated the construction of the project signing Power Purchase Agreement (PPA) with the company on July 31, 2018 (1st Amendment on February 7, 2019). The total project cost stands at Rs 4.48 billion out of which Rs 3.325 billion has been managed by the consortium debt. NMB Bank now stands with total number of 42 projects in its hydro portfolio.