Asian Development Bank $48 million loan to help Assam improve power distribution
Posted on:09 Nov 2016 18:09:48
09 November 2016 Current Affairs: Asian Development Bank will provide the second tranche loan of USD 48 million to Assam to help the state expand and upgrade its power distribution system.
This is the second tranche loan of the USD 300 million multi-tranche financing facility for the Assam Power Sector Investment Programme that was approved by the ADB Board in July 2014.
The project will help Assam to enhance capacity and efficiency of its power distribution system to improve electricity service to end users.
An agreement regarding the second tranche was signed between Asian Development Bank (ADB) and the Union Government on Monday to help Assam continue its drive to improve access to efficient and reliable power, it added. In the first tranche, ADB had provided loan of USD 50 million in February last year.
Increased access to reliable and modern power supply for remote communities can help meet growing demand. This loan will help strengthen Assam’s distribution system, improve energy efficiency and reduce technical and commercial losses.
The project is expected to be completed by December 2019 will help APDCL add an additional substation capacity, expand and improve medium voltage network. It will also reduce system losses by 3 per cent and enhance energy efficiency through renovation and modernisation of existing 33/11 kV substations.
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