ADB and India signal $300 million mortgage to improve energy initiatives in UP

The Asian Development Bank (ADB) has signed $300 million mortgage settlement with the Government of India to improve rural energy distribution networks in Uttar Pradesh. This upgradation helps to offer dependable electrical energy provide to customers within the state. This is the primary tranche of the mortgage for the Uttar Pradesh Power Distribution Network Rehabilitation Project.

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About the undertaking:

  • Overall, the $430 million multi-tranche financing facility (MFF) has been accredited for the undertaking constituting two tranches.
  • The undertaking envisages conversion of 65,000 kilometres (km) of rural low-voltage distribution traces from naked conductors to aerial bundled conductors (ABC) to create a strong distribution community that may profit an estimated 70 million individuals in 46,000 villages.

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