$350M ADB Loan Will Back Indian Power Upgrades

Law360, New York (December 13, 2013, 4:42 PM EST) -- The Asian Development Bank will loan $350 million to the Indian state of Madhya Pradesh to upgrade its power infrastructure, with the government of India to contribute another $150 million, the bank said Friday.

The quickly growing state has an outdated transmission network that can't handle the rising demand, the bank said, and only two-thirds of local households are connected to the system. Electricity use will rise by 11 percent per year through 2017, leaving as much as a fifth of Madhya Pradesh residents without power,...
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