ADB and India sign $300 million loan to upgrade power projects in UP

The Asian Development Bank (ADB) has signed $300 million loan agreement with the Government of India to upgrade rural power distribution networks in Uttar Pradesh. This upgradation helps to provide reliable electricity supply to consumers in the state. This is the first tranche of the loan for the Uttar Pradesh Power Distribution Network Rehabilitation Project.

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About the project:

  • Overall, the $430 million multi-tranche financing facility (MFF) has been approved for the project constituting two tranches.
  • The project envisages conversion of 65,000 kilometres (km) of rural low-voltage distribution lines from bare conductors to aerial bundled conductors (ABC) to create a robust distribution network that will benefit an estimated 70 million people in 46,000 villages.

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