NMB Bank Funds Upper Sardi Khola Hydropower Project in Nepal
29th July 2025, Kathmandu
NMB Bank Ltd. has finalized a sole financing agreement for the 2.9 MW Upper Sardi Khola Hydropower Project, located in Machhapuchhre Rural Municipality, Kaski District. This significant partnership is with Mandakini Hydropower Ltd.
NMB Bank Funds Upper Sardi Khola
The estimated cost of the Upper Sardi Khola Hydropower Project is approximately NPR 661.89 million, with NMB Bank providing a loan investment of NPR 463.32 million.
During the signing ceremony, Mr. Govind Ghimire, CEO of NMB Bank Ltd., urged Mandakini Hydropower Ltd. to complete the project within the stipulated cost and timeframe. In response, Mr. Sharad Kumar Dahal, Chairman of Mandakini Hydropower Ltd., expressed gratitude to NMB Bank for their support in securing the financing.
He also pledged to complete the Upper Sardi Khola Hydropower Project on schedule and within budget, committing to collaborate with the local government to advance the project.
Mandakini Hydropower Ltd. is also the developer of the 4 MW Sardi Khola Hydropower Project, also located in Machhapuchhre Rural Municipality, Kaski District.
This project has been in commercial operation since December 9, 2017 (B.S. 2074 Mangsir 23), and NMB Bank Ltd. has played a leading role in its financing under a co-financing arrangement.
In line with the Nepal Rastra Bank’s ‘Environmental and Social Risk Management, 2022’ directives, NMB Bank has developed and implemented an Environmental and Social Policy.
This policy guides the bank’s approach to managing environmental structures and social risks associated with its projects through a robust Environmental and Social Management System.
NMB Bank currently provides high-quality services through its extensive network of 202 branches, 187 ATMs, and 9 extension counters across Nepal.
About NMB Bank Limited
NMB Bank Limited is one of Nepal’s prominent commercial banks, with its headquarters in Kathmandu. Established in May 2008, after upgrading from a Class ‘C’ financial institution, it has rapidly grown to become a leading player in the Nepalese financial market.
The bank is licensed by Nepal Rastra Bank, the central bank of Nepal, and operates an extensive network across the nation. Currently, NMB Bank serves its customers through 202 branches, 187 ATMs, and 9 extension counters, providing a wide array of retail and commercial banking services. Its shares are publicly traded on the Nepal Stock Exchange.
A significant aspect of NMB Bank’s structure is its joint venture agreement with the Netherlands Development Finance Company (FMO), a Dutch development bank, which holds a substantial shareholding, making it the largest single shareholder. This alliance has not only bolstered NMB Bank’s financial standing but also positioned it as a market leader in managing environmental and social risks, particularly within the renewable energy and agribusiness sectors.
NMB Bank is highly regarded for its commitment to sustainable banking, digital transformation, and high corporate governance standards. This dedication has earned it multiple accolades, including being recognized as “Bank of the Year Nepal” multiple times by The Banker magazine, a service of the Financial Times, and notably, “Bank of the Year Asia 2021,” a historic achievement for a Nepalese bank. The bank continually strives to offer innovative financial products and services, fostering inclusive banking and contributing to Nepal’s socio-economic development.
For more: NMB Bank Funds Upper Sardi Khola
