ADB signs $100-mn loan with Centre to boost power supply in Bengaluru
Asian Development Bank (ADB) and the Indian government signed a $100-million dollar loan on 31 December, 2020. This loan will be used to enhance the power distribution system of Bengaluru in Karnataka.
With an aim to modernise and upgrade the power distribution system, this loan is said to help enhance the quality and reliability of electricity supply in Bengaluru city.
Apart from the $100 million sovereign loan, ADB will give a $90 million loan to the government without a sovereign guarantee in order to fund the project by Bangalore Electricity Supply Company Limited (BESCOM). BESCOM is one of five state-owned distribution utilities in Karnataka.
