The China-backed Asian Infrastructure Investment Bank (AIIB), in 2019, approved a loan of up to USD 90 million to develop 216 mw Upper Trishuli-1 hydro power project under a build-own-operate-transfer model, located on Trishuli River in Nepal. The total cost of project is around USD 650 million financed completely by foreign capital coming from the Asian Development Bank (ADB), International Finance Corporation and other development institutions. AIIB, from its project preparation special fund, has also provided USD 0.9 million for the proposed Tamakoshi V Hydroelectric project and USD 1m for a proposed power distribution system upgrade and expansion project. The project aims to help Nepal address its acute energy shortage. The generated electricity will be sold to the Nepal Electricity Authority (NEA) for locals’ consumers. The construction work on hydropower project began last year and expected to be completed in 2026.