World Bank $600 million loan to Power Grid

March 19th, 2008 - 10:01 pm ICT by admin  

New Delhi, March 19 (IANS) The World Bank said Wednesday it will lend $600 million to the Power Grid Corp to fund a project aimed at strengthening India’s electricity transmission network. “The Bank approved a $600 million loan to Power Grid to strengthen the electricity transmission system in order to increase reliable power exchange between regions and states,” it said in a statement.

“Repayment of the proposed loan will be guaranteed by the government of India,” it added.

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