The Indian government on Thursday signed an agreement with the World Bank and the Asian Infrastructure Investment Bank (AIIB) for co-financing loans worth $570 million for the 'Power for All' project in Andhra Pradesh.
The total cost of the project is $570 million, of which $240 million is from the World Bank arm International Bank for Reconstruction and Development (IBRD) and $160 million from the AIIB, a Finance Ministry statement said here.
"The rest will be counterpart funding from the government of Andhra Pradesh," it added.
The objective of the project is to increase the delivery of electricity to customers and improve the operational efficiency and system reliability in distribution of electricity in selected areas in Andhra Pradesh, it added.
--IANS
bc/dg
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app