ADB okays $190 mn loan for upgrading Bengaluru power distribution

The Asian Development Bank (ADB) has approved a $190 mn loan for modernising and upgrading the power distribution system in Bengaluru. The funding for the Bengaluru Smart Energy Efficient Power Distribution Project by ADB includes a $100 mn sovereign loan and a $90 mn loan without sovereign guarantee to Bangalore Electricity Supply Co (BESCOM)., one of five state-owned distribution utilities in Karnataka. While ADB has supported several power distribution projects in India since 2010, this combination of sovereign and non-sovereign loans - combining public and private sector loans to a state government-owned enterprise - is being deployed on a pilot basis for the first time.