The Asian Development Bank (ADB) and the Government of India on Monday signed a USD 346 million loan pact to help provide efficient and reliable power supply to rural agriculture customers in Maharashtra. The signatories to the loan agreement for the Maharashtra Rural High Voltage Distribution System (HVDS) Expansion Program were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, on behalf of the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission.
The program aims to provide efficient and reliable power to agricultural customers in Maharashtra’s rural areas through adoption of HVDS that will help reduce distribution losses, and improve agricultural productivity and farmer incomes, Khare said after signing the loan agreement.
