The World Bank has granted a USD 37 million loan for Nepal-India Electricity Transmission and Trade Project (NIETTP) to assist Nepal's efforts to mitigate a national energy crisis.
Nepal government government has decided to accept the USD 37 million loan along with and additional USD 2 million aid from the International Development Institute of the World Bank.
The government would provide the loan to the Nepal Electricity Authority (NEA) while the government would invest the grant amount as the share in the NEA, Minister for Information and Communication Madhav Prasad Ghimire told journalists.
Upon completion of the project, Nepal is expected to significantly reduce load shedding. The project will provide Nepal with at least 100 MW of additional electricity imported from India to meet its power needs.
