The total cost of the project is $570 million, of which $240 million is from the World Bank arm International Bank for Reconstruction and Development (IBRD) and $160 million from the AIIB, a Finance Ministry statement said here.
"The rest will be counterpart funding from the government of Andhra Pradesh," it added.
The objective of the project is to increase the delivery of electricity to customers and improve the operational efficiency and system reliability in distribution of electricity in selected areas in Andhra Pradesh, it added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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