ADB Approves $311 Million Loan To Update Nepal's Power Infrastructure
Date
11/5/2024 5:30:14 AM
(MENAFN- IANS) Manila, Nov 5 (IANS) The Asian Development bank (ADB) on Tuesday said it approved a loan of $311 million to modernise electricity transmission and distribution infrastructure in Nepal.
The ADB said the project will finance 290 km of power transmission lines in Nepal, promising to expand, reinforce, and rehabilitate electricity distribution infrastructure in relevant areas, Xinhua news agency reported.
The project is also expected to help the Nepal Electricity Authority upgrade its training centre, expand the smart meter rollout program, establish a data recovery centre, and implement a supervisory control and data acquisition network.
The ADB will also provide an additional $30 million in grants from its Asian Development Fund, which offers grants to ADB's poorest and most vulnerable developing members.
MENAFN05112024000231011071ID1108852028
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.