KATHMANDU, Nov 11: The Investment Board of Nepal (IBN) has approved a total of Rs 38.68 billion worth of investments for three hydropower projects.

The meeting of the Investment Board held on Wednesday decided to approve investments worth Rs 38.68 billion for three hydropower projects that will be built on public private partnership modality.

Meeting of the Investment Board held after two months of CEO appointment

Those hydropower projects getting the approval from the Investment Board are 77.5 MW Ghunsakhola Hydropower Project (Rs 17.62 billion), 57 MW Himchuli Dordi Hydropower Project ( Rs 10.62 billion) and 65 MW capacity Dudhkhola Hydropower Project (Rs 10.44 billion).

The meeting chaired by Prime Minister and IBN Chairman KP Sharma Oli was the first after the government appointed Sushil Bhatta as its new CEO in August.

During the meeting, Prime Minister KP Sharma Oli said that the board meeting could not be held regularly due to COVID-19, according to a statement issued by the IBN on Wednesday night.