IFC to fund USD 400 million to Power Grid projects

Power Grid Corporation is likely to get USD 400 million (over Rs 1,980 crore) funding from the International Finance Corp for undertaking electricity transmission projects in the country.

The proposed funding would make up for 15 per cent of the national power transmission company's projects cost, estimated to be worth USD 2.3-3.5 billion, according to the IFC.

Power Grid Corporation is likely to get USD 400 million (over Rs 1,980 crore) funding from the International Finance Corp for undertaking electricity transmission projects in the country.

The proposed funding would make up for 15 per cent of the national power transmission company's projects cost, estimated to be worth USD 2.3-3.5 billion, according to the IFC.