Updated By: LatestGKGS Desk
India & ADB Signed $105 Million Loan for Hydropower Transmission in Himachal Pradesh
India & ADB Signed $105 Million Loan for Hydropower Transmission in Himachal Pradesh: Details, Aim, Tenure, Benefits, Highlights
India and Asian Development Bank (ADB) on 16th November 2018, have signed a 105 million dollar loan agreement to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower.
This loan will help Government of Himachal Pradesh to benefit electricity consumers in the state and throughout northern India, by increasing the transmission system capacity for inflow of the hydropower generated in the state into India’s national grid.
The third tranche loan is a part of the 350 million dollars multi-tranche financing facility for Himachal Pradesh Clean Energy Transmission Investment Programme. This programme is aimed at developing and expanding the transmission network to evacuate clean and renewable power generated from the State’s hydropower sources.
This loan will have a 25-year term, including a grace period of 5 years, an annual interest rate determined by ADB and commitment charge of 0.15% per year.
ADB
Established: 1966
Headquarters: Manila, Philippines
President: Takehiko Nakao
Members: 67 (48 regional members)
HIMACHAL PRADESH
Statehood: 25 January 1971
Capitals: Shimla & Dharamshala (second winter capital)
Districts: 12
Governor: Acharya Dev Vrat
Chief Minister: Jai Ram Thakur (BJP)
