ADB & India sign $300 million loan to upgrade power distribution network in Uttar Pradesh

ADB & India sign $300 million loan to upgrade power distribution network in Uttar Pradesh

• The Asian Development Bank (ADB) has signed $300 million loan agreement with the Government of India to upgrade rural power distribution networks in Uttar Pradesh, to provide reliable electricity supply to consumers in the state.
• This is the first tranche of the loan for the Uttar Pradesh Power Distribution Network Rehabilitation Project.
• Overall, the $430 million multi-tranche financing facility (MFF) has been approved for the project constituting two tranches.
• The project envisages conversion of 65,000 kilometers (km) of rural low-voltage distribution lines from bare conductors to aerial bundle conductors (ABC) to create a robust distribution network that will benefit an estimated 70 million people in 46,000 villages.