China Eximbank reschedule loan for 60 MW Upper Trishuli 3A Hydroelectric Power Plant Construction Project (Linked to Project ID #53716)
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Nepal
Sector
Action relating to debt (Code: 600)
Flow type
Debt rescheduling
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
A $114.7 million China Eximbank government concessional loan (GCL) for the 60 MW Upper Trishuli 3A Hydroelectric Power Plant Construction Project that was approved in 2011. The original terms of the 2011 GCL agreement (see project ID#53716) were as follows: 1.75% interest, 25 year maturity, 5 year grace period. The Government of Nepal subsequently requested a 5 year extension of the grace period after natural disasters led to major project implementation delays. In 2017, China Eximbank agreed to extend the 5 year grace period attached to its 2011 loan of $114.7 million for the 60 MW Upper Trishuli 3A hydroelectric power plant by an additional 4.5 years (increasing the total grace period to 9.5 years).
Number of official sources
0
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Nepal [Government Agency]
Indirect receiving agencies [Type]
Nepal Electricity Authority (NEA) [Government Agency]
Implementing agencies [Type]
Nepal Electricity Authority (NEA) [Government Agency]
Loan Details
Maturity
25 years
Interest rate
1.75%
Grace period
10 years
Grant element (OECD Grant-Equiv)
60.5384%