India and Asian Development Bank (ADB) signed a 105 million dollar loan agreement to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower.
The third tranche loan is a part of the 350 million dollar multi-tranche financing facility for Himachal Pradesh Clean Energy Transmission Investment Programme. The programme is aimed at developing and expanding the transmission network to evacuate clean and renewable power generated from the State’s hydropower sources.
- The Asian Development Bank is a regional development Bank established in 1966.
- Headquarters of ADB is in Manila, Philippines.
- Takehiko Nakao is Present President of the Asian Development Bank.