Kathmandu, 20th December,2014 : The International Finance Corporation (IFC) is to invest ten per cent share in the Upper Karnali Hydropower Project. An agreement towards that end is taking place between the project promoter Grandhi Mallikarjuna Rao Group (GMR) and IFC on coming Monday.
IFC country manager for Nepal Kyle Kelhofer called on Finance Minister Dr Ram Sharan Mahat Friday and informed him about
the Corporation decision to own the project share. On the occasion, Minister Mahat was assured that the project would see no lack of resources, the Ministry said.
Other projects such as Upper Arun, Kabeli and Upper Trishuli-1 are in the list of IFC investment, it is learnt.
Source:RSS
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