The China-sponsored Asian Infrastructure Investment Bank (AIIB) has approved $160 million loan for Andhra Pradesh – 24×7 Power for All project with an objective to strengthen power transmission and distribution system in the state. It is the first credit from the AIIB for an Indian project. The power project is co-financed by the World Bank (WB). The project is part of the Government of India’s Power for All Program that was launched in 2014 to provide an efficient, reliable and affordable electricity supply to all consumers across selected states within five years from the start of implementation of the program in each state.
