World Bank gives Rs 2,500 crore loan to Andhra Pradesh

The World Bank has agreed to provide around Rs 2,500 crore loan to Andhra Pradesh for enhancing efficiency in the power sector, an official statement said.

The funding is towards enhancing rural supply, smart city, smart metering, distribution strengthening investments including those for new capital city, transmission systems including network strengthening and augmentation, among others, State Energy Conservation Mission said.

Meanwhile, the Government of India, in a communication to state government today informed that German development bank, KFW, has cleared all modalities for sanctioning Rs 515 crore loan at a concessional rate of interest towards green energy corridor, it said.

The state is contemplating to complete the green energy corridor with an estimated cost of Rs 1,289 crore with the support of Government of India and international financial institutions.

The Centre has also sanctioned a grant Rs 515 crore for evacuation of wind power & green energy corridor.

Leave a Reply