Local currency bond on cards to promote hydropower

Local currency bond on cards to promote hydropower

The government is planning to allow local currency bonds to promote the hydropower projects. The international agencies will be encouraged to issue local currency bonds that could be used to develop hydropower, said secretary at the Office of the Prime Minister and Council of Ministers Krishna Hari Banskota, here today. The government is trying its best to attract the national and international investors to come up with appropriate proposals to invest in Nepal’s hydropower sector, he said, addressing a programme in the capital today. "The government is ready to hold discussions over productive proposals concerning the investment in power generation in the country." Claiming that Nepal’s bureaucratic structure and policies are investment-friendly, Banskota stressed on the huge 'unexplored' potential the country offers in hydropower sector. Banskota also highlighted the need to consider the environmental aspects while building hydropower projects. "For the generation of hydropower between 5,000 MW and 10,000 MW, investors will have to first identify areas containing rivers without any human settlements nearby,” he added. A board under prime minister himself looks over investments over Rs 10 billion, while hydropower projects that could generate more than 500 MW electricity and ranging between Rs 2 billion and Rs 10 billion is facilitated by Ministry of Industry.
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