Several financial institutions in Nepal have agreed to help finance the 15.5MW Sanima Mai hydropower scheme in Ilam, Nepal, nepalnews.com has reported.

Eleven banks were reported to have signed an agreement to finance approximately 75% of the project’s cost, with the remainder to be funded by project developer Sanima Mai Hydropower. The banks involved were named as: Laxmi Bank, NABIL Bank, DCBL Bank, Bank of Asia Nepal, Janata Bank Nepal, Nepal SBI Bank, Kumari Bank, Bank of Kathmandu, Siddhartha Bank, Machhapuchchhre Bank, and ACE Development Bank

The project is expected to be placed into operation in early 2014.