Companies & Finance

Loans approved to improve Indian power transmission

Two Asian banks have approved a $100 million loan for India to improve its power transmission network and expand the use of solar and wind energy.
By Staff reporter 5 October 2017 0 27862

The Asian Infrastructure Investment Bank and multilateral funding agency the Asian Development Bank have approved a $100 million loan for India to improve its power transmission network and expand the use of solar and wind energy, according to Money Control.

The banks will provide $50 million each. It is the fourth time the institutions have co-financed a project.