November 3: The Asian Development Bank (ADB) has expressed its commitment to invest in the Dudh Koshi reservoir-type hydropower project, which has a capacity of 635 megawatts.

A high-level team, consisting of the Executive Director of the Nepal Electricity Authority (NEA) Kul Man Ghising, ADB Director General Ramesh Subramaniam, and ADB-Nepal Resident Mission Director Arnaud Cauchois, conducted an on-site inspection of the project.

During their visit, the team examined the reservoir area, the power house area and engaged with local representatives in Rabuwa Bazaar, Khotang, where the dam is located.

Director General Subramaniam said  that this on-site visit is one of the final inspections before moving forward with the project and mentioned that financial management plans under ADB's leadership would be established soon.

He emphasized the importance of commencing the project's construction as soon as possible, taking into account technical, environmental, and social considerations.

 The estimated total cost of the project, including interest during the construction period, is $2.20 billion. A total of $1 billion will be invested in the project by various international financial organizations under ADB's leadership, with ADB committing to provide a $550 million loan for the project.

ADB Nepal Resident Mission Director Arnaud stated that they are actively working to expedite decision-making processes and have been engaging in frequent discussions with the Government of Nepal.

He also urged the local community to exercise patience, emphasizing that the Dudh Koshi project is a significant undertaking and the largest dam project in the SAARC region to date. (RSS)