The Manila-based lending agency, Asian DevelopmentBank (ADB), has approved a $48 million loan to boost Assam’s power sector. The bank and the government of India yesterday signed the loan agreement which would 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 $300 million multi tranche financing facility for the Assam Power Sector Investment Program (APSIP) 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 $50 million was signed in February 2015.