NEW DELHI, Nov 8 - The Government of India and Asian Development Bank (ADB) have signed USD 48-million loan with an aim to improve Assam�s power distribution system.
Official sources said that the ADB and the Government of India on Monday signed the loan agreement to help Assam continue its drive to improve access to efficient and reliable power in the national capital.
This is the second tranche loan of the USD 300-million multi-tranche financing facility for the Assam Power Sector Investment Programme that was approved by the ADB Board in July 2014. �The project will help Assam to enhance capacity and efficiency of its power distribution system to improve electricity service to end users. The first tranche loan of USD 50 million was signed in February 2015,� said sources.
�Increased access to reliable and modern power supply for remote communities can help meet growing demand. This loan will help strengthen the State�s distribution system, improve energy efficiency and reduce technical and commercial losses,� said Country Director of ADB�s India Resident Mission, M Teresa Kho. She signed the loan agreement on behalf of the ADB.
�This project will help Assam attract investment and tap its economic potential, in addition to reducing power outages,� said Joint Secretary (Multilateral Institutions) in the Ministry of Finance, Raj Kumar.
