AIIB grants $160 million for Andhra Pradesh power project

China-sponsored Asian Infrastructure Investment Bank (AIIB) has approved a $160 million loan for a power project in Andhra Pradesh, the first credit from the bank for an Indian project. The AIIB, in which India is the second largest shareholder after China, has approved the project with the objective of strengthening the power transmission and distribution system in Andhra Pradesh. Besides strengthening the transmission and distribution network, the project aims at increasing network capacity, improving system reliability and supporting operational reforms to improve the commercial performance of the state’s distribution companies. The power project is part of the Government of India’s Power for All programme for which Andhra Pradesh was one of the first states selected.