World Bank Loan for ‘Project 24×7 Power for All’

2019 ias preliminary exam test series

A Loan Agreement for part funding of USD 240 million from the World Bank (IBRD) and USD 160 Million from AIIB (60:40 ratio) for “24X7 Power for All in Andhra Pradesh Project” was signed recently.

Total Cost of the project is USD 570 million, out of which USD 240 million is from World Bank (IBRD) and USD 160 million from AIIB. The rest will be counterpart funding from GoAP.

The objective of the project is to increase the delivery of electricity to customers and to improve the operational efficiency and system reliability in distribution of electricity in selected areas in Andhra Pradesh.

Current Affairs for IAS Exam