A 450 MW hydroelectric project in the Kinnaur district of Himachal Pradesh received $315 million loan assistance from the Asian Development Bank (ADB). The multilateral lending institution entered into a pact to this effect with the Government of India.
The Shongtong Karcham Hydroelectric Project is expected to cost a total of $750 million, with the Himachal Pradesh government pitching in with $235 million. The loan is part of the fourth tranche of the multi-tranche Himachal Pradesh Clean Energy Development Investment Programme. Under this $800 million fi nancing programme, ADB provides 25-year term loan.
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