TDF sanctions loan for Market Area in Harion Municipality

The Executive Director of Town Development Fund (TDF), Mr. Maniram Singh Mahat, signed a loan agreement with the Mayor of Harion Municipality, Mr. Ganesh Prasad Prasai for the construction of Market Area in Harion under the ” Urban Infrastructure Development Financing Project” on October 22, 2018 amidst a function held in the office of TDF, New Baneshwore, Kathmandu. The total estimated project cost is NRs. 160,000,000 and TDF is going to finance 80% of the project cost with the interest rate of 8% per annum for the period of 15 years, including 2 years of grace period and the remaining 20% of project cost will be matched by the municipality.

The proposed ‘Market Area’ project site having 1.2 Bigha land area lies in Ward no. 11, Harion Municipality. The site of the project is well connected with the East-West highway on the northern side, located in the main commercial zone of the city and remains as the prime market area of Harion Municipality. The Market Area will have a building with 2 floors, having total number of 134 rentable shops along with parking facilities on the ground. The project is expected to generate NRs. 24,227,736 revenue annually by renting out the facilities.