ADB approves $200m for Assam power sector | business | Hindustan Times
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ADB approves $200m for Assam power sector

business Updated: Dec 08, 2009 17:32 IST
Rahul Karmakar

The Asian Development Bank (ADB) has approved a financial assistance for $ 200 million under the Assam Power Sector Enhancement Investment Programme. Union Finance Minister Pranab Mukherjee said this in a letter to Assam Chief Minister Tarun Gogoi.

Mukherjee pointed out that apart from the loan, ADB will provide a grant of $ 1 million for capacity development of the power sector utilities in the State.

The project has some innovative features like franchisee-based distribution, off grid electrification with renewable energy, reduction in CHG emissions through efficiency gains. Mukherjee said these innovative features were appreciated during consideration of the proposal by the board of directors of ADB.

The finance minister hoped the State government under Gogoi would spare no efforts in implementing the project in time so that the desired benefits were fully realised.