The Centre on Tuesday signed an
agreement with Asian Infrastructure Investment Bank (AIIB) for borrowing $304 million (over Rs 2,200 crore) to improve power transmission network in Assam.
According to an official release here, the fund will be utilised for the 'Assam Intra-State Transmission System Enhancement Project', aiming to improve reliability, capacity and security of the power transmission network in the state.
The total estimated cost of the project is $365 million, of which $304 million will be financed by the AIIB and rest by the state government, it said.
"The loan from the AIIB has a five-year grace period and a maturity of 24 years," the release said.