AIIB Approves First Loan of US$160 Million to Support India Power Sector
Beijing | 3rd May 2017
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) approved a loan of US$160 million in support of the Andhra Pradesh – 24×7 Power for All project in the Republic of India with the objective to strengthen the power transmission and distribution system in the State of Andhra Pradesh.
US$160 million Loan for Power Project in India
It will directly contribute to the economic development of the State of Andhra Pradesh and India by increasing delivery of reliable, grid-based electricity to households, business and the agricultural sector. The project is co-financed with the World Bank.
Official Press Release by Asia Infrastructure Development Bank