World Bank to fund Himachal Pradesh power sector

The central government will provide a financing facility worth about Rs 16 billion through the World Bank for Himachal Pradesh Power Sector Development Program.

The total program cost will be approximately Rs 20 billion with the state equity. World Bank funding under the program is expected to be available by early next year. Both the World Bank and Himachal Pradesh government are working expeditiously towards finalisation of the program preparation. The program duration will be of five years. The program aims to undertake holistic power sector reforms to allow for improvements in the renewable energy integration in the state.