The Government of India and the Asian Infrastructure Investment Bank (AIIB) has signed a $304 million loan agreement on February 23, 2021, for the Assam Intra-State Transmission System Enhancement Project. The project aims to improve the reliability, capacity and security of the power transmission network in the northeastern state of Assam.
About the project:
- It includes constructing 10 transmission substations and laying transmission lines with the associated infrastructure, upgrade 15 existing substations, and transmission lines and existing ground wire to optical power ground wire and provide technical assistance to support project implementation.
- The total estimated cost of the project is $365 million. AIIB will finance $304 million while the remaining funding of $61 million will be done by the state government.
Important takeaways for all competitive exams:
- President of Asian Infrastructure Investment Bank: Jin Liqun.
- Headquarters of AIIB: Beijing, China.
- AIIB established: 16 January 2016.