Categories: Business

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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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.