Power Grid Inks $500 Million Loan Pact with ADB

State-run power transmission utility Power Grid Corp announced that it will get a loan of USD 500 million from the Asian Development Bank (ADB) for its various projects.

The proceeds of the loan are proposed to be utilised for funding of Green Energy Corridor (Part D); 800KV High Voltage Direct Current (HVDC) bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) and 320 KV HDVC link between Pugalur and North Trichur (Kerala).
Important Takeaways from Above News-
  • Headquarter of ADB is in Manila, Philippines.
  • TakehikoNakao is the president of ADB. 
  • I. S. Jha is Chairman & Managing Director of Power Grid Corporation of India.
Source- The Economics Times

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