World Bank Offers Loan to Indian Power Company

India’s Power Grid Corporation can access a USD400 million World Bank loan to provide reliable energy supply in the country. “This project will help the government achieve its goal of expanding power generation capacity to more than 200 gigawatts (200,000 megawatts) by 2012 through enhancing the country’s power transmission capacity and enabling power to be transmitted across regions and states,” said Julia Fraser, a senior financial analyst at the bank. “It will also help reduce transmission losses and, subsequently, cut the cost of energy.” (“World Bank Provides More Support to India’s Power Grid Corporation” - World Bank, Oct. 21, 2008)

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