Global IME Upper Mewa Hydropower Deal: Rs. 4.85 Billion Project Funding
13th June 2025, Kathmandu
A financial closure agreement has been signed under the leadership of Global IME Bank Limited for the Upper Mewa Khola Hydropower Project.
Global IME Upper Mewa Hydropower Deal
The agreement was signed between the project’s promoter company, Saurya Holding Pvt. Ltd., and the bank for financial management.
According to the agreement, a consortium led by Global IME Bank with participation from Laxmi Sunrise Bank will invest Rs. 4.85 billion in the project. In the presence of Global IME Bank CEO Surendra Raj Regmi, the agreement was signed by Global IME Bank Chief Business Officer Kalyan Bikram Pandey, Laxmi Sunrise Bank Chief Business Officer Manish Raj Kunwar, and Saurya Holding Pvt. Ltd. Managing Director Mohan Bikram Karki.
CEO Regmi expressed his belief that the project would be completed within the stipulated time and would help increase national energy production and promote exports.
The estimated cost of the 31.92 MW hydropower project, which will be constructed in the Upper Mewa Khola of Taplejung district, is Rs. 6.37 billion.
As per the agreement, the bank will invest 75% of the total cost, and the remaining 25% will be contributed by Saurya Holding through rights issue proceeds.
The project is expected to be completed within three years from the start of construction.
Global IME Bank has been recognized as Nepal’s Best Bank in two categories under the Global Finance Best Bank Award 2024 and Euromoney Award for Excellence 2024. The bank has also received honors from various national and international institutions in different categories.
Global IME Bank is the first private commercial bank in Nepal with a branch network across all 77 districts. The bank currently operates over 1,000 service points, including 352 branches, 385 ATMs, 158 branchless banking services, 68 extension and revenue collection counters, and 3 international representative offices.
In addition to providing banking services to Nepali citizens, the bank also offers remittance services from various countries around the world. These include the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, and others.
About Global IME
Global IME Bank offers reliable trade finance solutions for importers and exporters. The bank helps businesses manage cross-border transactions smoothly. It provides Import and Export Letters of Credit (LC), including both Sight LC and Usance LC. Sight LC ensures quick payments, while Usance LC supports deferred payments.
The bank also issues bank guarantees such as bid bonds, performance bonds, and advance payment guarantees. Documentary Collection is another service offered, which follows international rules (URC 522) and is more affordable than LCs.
Customers can apply for Letters of Credit and Guarantees online using the bank’s digital platform. The service is fast, secure, and convenient.
Experienced trade finance professionals assist clients throughout the process. These services reduce risks and improve the speed of international transactions.
Global IME Bank supports Nepal’s foreign trade by offering secure and efficient financial tools for businesses engaged in imports and exports.
For more: Global IME Upper Mewa Hydropower Deal
