Bengal secures $135 million World Bank loan
December 01, 2021  12:02
image
International Bank for Reconstruction and Development (IBRD) has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in select pockets in the state. 

The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively also called the World Bank. The variable spread loan or floating interest loan will have a maturity of 17 years, including a grace period of seven years and will aim to strengthen distribution networks, invest in smart-grid technologies, and ensure financial sustainability of the state discom.


 "The financial stability of electricity companies is critical to providing efficient and reliable electricity to people. The pandemic has adversely affected the financial health of electricity distribution companies in India and in turn the financial health of the electricity generation companies," World Bank's Country Director in India Junaid Ahmad said in a statement issued from global headquarters. -- PTI
« Back to LIVE

TOP STORIES