World Bank loan for Powergrid's ambitious plans
A $450m World Bank loan will help Powergrid Corporation modernise infrastructure for the inter-state transmission of power.
A bank statement on 4th May said the loan would help Powergrid "expand its programme of providing state utilities with modern facilities to dispatch their power systems more efficiently." An earlier World Bank loan supported Powergrids southern and northern India projects. This loan supports eastern and western India.
"Power failure and lack ofcapacity in India's power sector result in frequent blackouts and poor reliability," said the Bank. "Lack of dependable power remains a leading constraint to economic growth."