A financial closure agreement has been signed for the Upper Mewa Khola Hydropower Project under the leadership of Global IME Bank Limited.

An agreement has been signed between the project promoter, Saurya Holding Pvt. Ltd., and the bank for financial management. According to the agreement, a consortium led by Global IME Bank and formed with the participation of Lakshmi Sunrise Bank will invest Rs 4.85 billion in this project.

In the presence of Surendra Raj Regmi, chief executive officer of Global IME Bank, the agreement was signed by Kalyan Bikram Pandey, Chief Business Officer of Global IME Bank, Manish Raj Kunwar, Chief Business Officer of Lakshmi Sunrise Bank, and Mohan Bikram Karki, Managing Director of Saurya Holding Pvt. Ltd.

Global IME Bank Chief Executive Officer Surendra Raj Regmi expressed confidence that the project would be completed within the stipulated time frame, increasing the state's energy production and also helping in export promotion.

The estimated cost of this 31.92 MW hydroelectric project which will be built on the Upper Mewa River in Taplejung district, is Rs 6.37 billion.

As per the agreement, the bank will invest 75 percent and the remaining 25 percent will be invested by Saurya Holdings through the proceeds from the issue of rights shares.

This project will be completed within 3 years from the date of commencement of construction.

Global IME Bank was honored as the best bank in Nepal in two categories: Global Finance's Best Bank Award 2024 and Euro Money Award for Excellence 2024.

Global IME Bank has also been honored in various categories by various national and international organizations. Global IME Bank is the first private sector commercial bank with a branch network in all seventy-seven districts of the country.

The bank has been providing excellent service to its customers from more than 1,000 service centers, including 352 branch offices, 385 ATMs, 158 branchless banking services, 68 extension and revenue collection counters, and 3 overseas representative offices.

In addition to providing banking services to Nepali citizens, the bank has also been providing remittance services from various countries around the world.

The bank has been working to receive remittances from countries including the United States, United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, and others.