World Bank to fund Rajasthan’s electricity distribution sector
The government of Rajasthan in India seeks to improve the performance of its electricity distribution sector under the state’s 24/7 Power for All programme.
To this end, the government has successfully secured a $250 million development policy loan in support of this programme from the World Bank.
The Second Programmatic Electricity Distribution Reform Development Policy Loan for Rajasthan is the second in the series of two operations planned for a comprehensive turnaround of Rajasthan’s electricity distribution sector.
The electricity distributors (DISCOMs) in Rajasthan provide electricity to about 9.5 million customers.
“The electricity distribution sector in Rajasthan has taken number of initiatives over the last few years that have helped in improving the operational and financial health of the DISCOMs, noted Rohit Mittal, senior energy specialist and Frederico Gil Sander, lead economist of the World Bank and task team leaders for the operation.
The loan, from the International Bank for Reconstruction and Development, has a 3-year grace period, and a maturity of 21 years.
Source: ESI Africa