Government urges World Bank to invest in Upper Arun Hydel

government-urges-world-bank-to-invest-in-upper-arun-hydel

, May 20

The government has proposed the to lead investment in the peaking run-of-the-river 1,061 megawatt , located in the .

In a virtual meeting held today, Minister for Energy, Water Resources and Irrigation Barshaman Pun made the proposal to Faris H Hadad-Zervos, the World Bank’s country manager for , stating that the construction of Upper Arun Hydropower Project has been accorded high priority in the policies and programmes of the government for upcoming fiscal year 2020-21.

During the meeting, Minister Pun urged the World Bank to take the lead in financial management of the project.

“The detailed project report (DPR) of Upper Arun, which is being supported by the World Bank, has reached the final stage,” he said.

In response, Faris promised to take Minister Pun’s proposal to the top level of the World Bank.

“I know Upper Arun is a good project. I will take the proposal of the minister to my top management,” he said.

The government has already decided to move ahead with the construction of the project in the company model under Nepal Electricity Authority (NEA).

NEA’s subsidiary, Arun Hydro Electric Company Ltd has been assigned to build the project.

The project is estimated to cost more tha


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