News Brief | November 2013
Agencies offer loan for power sector modernisation in World Bank
Multilateral development agencies, including World Bank and Germany's KfW, have agreed to offer Rs 1,100 crore in fresh soft loans for the modernisation of the power sector in West Bengal. World Bank has offered $50 million and KfW (German development bank) euro 90 million. The combined soft loans from these development agencies are close to Rs 1,100 crore of the Rs 1,700 crore needed to modernise three old units of Kolaghat. The balance has to be raised from other sources to complete the renovation of three units of 210 MW each at the Kolaghat thermal power plant.