World Bank approves $240 million loan for AP under Power for All

The World Bank has approved a loan of $240 million for the implementation of the Power for All scheme in Andhra Pradesh. The loan from the International Bank for Reconstruction and Development has a maturity period of 19 years and a five-year grace period. The project, which is the first in India to be co-financed by the Asian Infrastructure Investment Bank and the World Bank, will be financed in a 60:40 ratio for all project components. The investments are aimed at improving power supply to rural areas, the deployment of smart grids in selected towns, strengthening the intra-state transmission and distribution network, and supporting smart consumer meters with two-way communication and back-end IT infrastructure (to be deployed in select urban towns), among others.