World Bank to extend $240 mn credit for AP’s Power for All project

World Bank to extend $240 mn credit for AP’s Power for All project

The World Bank has announced $ 240 million credit line to support Andhra Pradesh Government’s effort to provide 24×7 quality and affordable power to its citizens.

The loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 19 years.

The project is the first in India being co-financed by the Asian Infrastructure Investment Bank (AIIB). The World Bank and AIIB will provide loans in a 60:40 ratio for all components of the project. Read More…

 

 

Credit By: The Hindu Business Line

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