Updated By: LatestGKGS Desk
World Bank, India signs loan agreement for Electricity Distribution Sector Rajasthan
World Bank & India signed $250 million loan agreement for Electricity Distribution Sector Reforms in Rajasthan: Details, Highlights
Central Government with Government of Rajasthan has signed $250 million Development Policy Loan (DPL) agreement with World Bank for Electricity Distribution Sector Reforms in Rajasthan.
The loan will be provided by World Bank’s lending arm International Bank for Reconstruction and Development (IBRD). The loan agreement has a maturity of 21 years and a 3-year of a grace period.
The loan proceeds will support Rajasthan Government in improving the performance of its electricity distribution sector under State’s 24×7 Power for All program. This loan was second in the series of two operations planned for the comprehensive turnaround of Rajasthan’s electricity distribution sector. The first loan was closed in March 2017.
This program is aligned to Broader Reform Program developed by Central Government and adopted by Rajasthan Government to improve the performance of DISCOMs in the State.
This will also contribute to state’s fiscal sustainability and achieve an objective of 24×7 Power for All initiative, which aspires to provide continuous, reliable power supply to all households in Rajasthan by 2019.
