The Asian Infrastructure¹ Investment Bank (AIIB) has approved a loan of 160 million US dollars to finance a power project in India, the bank said on Wednesday.

 

亚洲基础设施投资银行周三表示，该行核准了一项1.6亿美元的贷款，用于资助印度的一个能源计划。

 

The project, co-financed with the World Bank, is part of the Indian government's 24x7 Power for All program, and will strengthen the power transmission and distribution system in the southeastern Indian state of Andhra Pradesh.

 

The AIIB said in a statement that the project is approved with the objective of strengthening the power transmission and distribution system in the state of Andhra Pradesh.

 

"AIIB supports its members in their transition toward a low-carbon energy mix by promoting the improvement of energy efficiency, such as upgrading the existing transmission and distribution networks," said AIIB President Jin Liqun.

 

The project "will be the starting point for AIIB to extend its assistance to other countries in Asia moving towards an 'Energy for all' initiative," said D.J. Pandian, vice² president and chief investment officer of AIIB.

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