ADB to provide loan for UP’s power projects
The Manila-based multilateral financial institution, Asian Development Bank (ADB), will provide a loan of USD 562.8 million (about Rs 4,143 crore) for power projects in Uttar Pradesh .
The ADB has approved a USD 430-million multi-tranche financing facility (MFF) to improve the quality and reliability of power supply in Uttar Pradesh.
The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve the efficiency and sustainability of power supply in the state. The project is estimated to benefit seven crore people in 46,000 villages.
It will also finance the construction of a parallel network of 11-kilovolt feeders with a total length of 17,000 km to separate the distribution of electricity between residential consumers and agriculture consumers.
