Government of India & AIIB sign agreement for $304 million to improve the power transmission network in the state of Assam
The Government of India and the Asian Infrastructure Investment Bank (AIIB) on 23 Jan 2021 signed a loan agreement for a $304 million Assam Intra-State Transmission System Enhancement Project to improve reliability, capacity and security of the power transmission network in the State of Assam. This loan would strengthen the existing intrastate transmission network of Assam by augmenting it with newer networks to achieve affordable, secure, efficient and reliable 24×7 power. This would, in turn, bring Assam closer to ensuring long-term sustainability of its electricity supply.
About Asian Infrastructure Investment Bank (AIIB)
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, It began operations in January 2016. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.