India inks pact with World Bank for co-financing AP power project

India inks pact with World Bank for co-financing AP power project

India today signed an agreement with the World Bank for co-financing loans worth USD 570 million for ‘Power for All’ project in Andhra Pradesh.

The total cost of the project is USD 570 million, out of which USD 240 million is from the International Bank for Reconstruction and Development (IBRD) — an arm of the World Bank, and USD 160 million from the Asian Infrastructure Investment Bank (AIIB), a finance ministry statement said.

The rest will be counterpart funding from the government of Andhra Pradesh, it said. Read More…

 

Credit By : ET Energy World

Leave a Reply

Your email address will not be published.