Global financial institute World Bank is mulling making an investment in hydropower sector of Nepal, contrary to its previous decision to abandon large hydro investments.
At a meeting in Dubai, World Bank sustainable development director Jack Stein and World Bank South Asia Region regional integration director Salman Jaheer have informed the country officials of the Bank’s interest.
Confirming the World Bank’s move, Nepal Ministry of Finance (MoF) joint secretary Madhu Kumar Marasini told Republica that the institute has expressed intent to fund a large-scale hydro project in the range of 200MW to 500MW.
"The discussion on project selection has begun," Marasini added.
"The bank´s Nepal office will be more engaged in identifying the project."
The World Bank had made an investment in hydroelectric project in the country earlier in 2000 for 900MW Arun-III hydropower project in Shankhusawa district.
The government is also not entirely prepared to give any specific project to the World Bank. We will also do homework and discuss the issue with the bank," noted Marasini.