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Hydro Village signed an agreement on the financial management of the 57.3 MW Myagdi River Hydropower Project amidst a program in the Capital on Monday. Nepal Bank Limited will be the main investor in the project. Chairman of Hydro Village Captain Rameshwor Thapa and Chief Executive Officer of the Nepal Bank Krishna Bahadur Adhikari signed the agreement. Nepal Bank, Megha Bank, Agricultural Development Bank, Employees’ Provident Fund and Nepal SBI Bank have made a loan investment of over Rs 11 billion which is 75 percent of the project. Hydro Village has collaborated with Hydro Electricity Investment and Development Company (HIDCIAL), Simrik Venture, Urja Developers and Aqua Ventures among others to promote the project. On the occasion, HIDCIAL Chief Executive Officer Arjun Kumar Gautam said that this is a model of Public Private Partnership (PPP). He suggested moving ahead by completing the project within the stipulated time as the project will have to face the loss of around Rs 9 million if the construction is delayed even a day. Hydro Village Chairman Captain Thapa thanked all the agencies who have played an important role in taking the project to this level. He stressed that some provisions of the government policies should be reformed. Expressing his commitment to complete the project by February 2026, he said that new projects will be taken ahead by cooperating in this sector and work will be done in an effective way to increase the gross domestic product. Meanwhile, Managing Director of the project Sushil Pokharel said that the electricity will be transmitted through a double circuit of 132 KV. Indian company LNT has been constructing the sub-station. Pokharel said that electricity produced from the project will be connected to the national grid from Kaligandaki Corridor via Rahughat. The project has also been constructing a 24 km road to reach the project site. The project to be constructed in a remote village of the Myagdi district will contribute to peace, security, health, and road expansion in the village.  

Nepal reported 15 new Covid-19 cases on Monday. According to the Ministry of Health and Population, 887 swab samples were tested in the RT-PCR method, of which 15 returned positive. Likewise, 661 people underwent antigen tests, of which none were tested positive. The Ministry said that no one died of the virus in the last 24 hours. The Ministry said that eight infected people recovered from the disease. As of today, there are 577 active cases in the country.  

A couple was found dead in Devdaha of Rupandehi district on Monday. Balendra Jolmi Magar (36) of Palpali Tole, Devdaha Municipality-5 and his wife Hemkala (32) were found dead in their house this morning. Police said that the door of their room was locked from inside when they reached the incident. Inspector Ganga Bahadur Saru of the Devdaha Police Post said that Balendra was found hanging from a ceiling fan while Hemkala was found lying on the floor. According to the nature of the incident, Balendra might have committed suicide after killing Hemkala, police said. Police, however, said that they are looking into the case.  

A Tanzanian commercial flight operated by Precision Air crash-landed in bad weather in Lake Victoria on Sunday, killing 19 people, CNN reported.

The country’s Prime Minister, Kassim Majaliwa, said officials believe all bodies have been recovered from the airplane.

“We’re starting to pull out the luggage and personal items from the aircraft. A team of doctors and security agencies have started the process of identifying the dead and notifying the families,” Majaliwa said.

The airline confirmed the death toll and amended the number of survivors down to 24 in an updated statement on Sunday evening. Earlier, the carrier as well as local officials had said that 26 of the 43 people on board had been rescued, according to CNN.

“Precision Air extends its deepest sympathies to the families and friends of the passenger and crew involved in this tragic incident. The company will strive to provide them with information and whatever assistance they will require in their difficult time,” the airline said.

“The names of passengers and crew on board the aircraft will not be released until all next-of-kin have been notified,” it added.

The flight, including 39 passengers and four crew members, had taken off from Tanzania’s commercial capital of Dar es Salaam and was headed to the town of Bukoba before it plunged into Lake Victoria as it was preparing to land, CNN reported.