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The World Bank and Asian Infrastructure Investment Bank (AIIB) signed a loan agreement for co-financing “24X7 Power for All in Andhra Pradesh Project” on Thursday. The total cost of the project is $ 570 million, out of which $ 240 million will be extended by the World Bank and $ 160 million from AIIB. The rest will be counterpart funding from the Government of Andhra Pradesh.The project aims to increase the delivery of electricity to customers and to improve the operational efficiency and system reliability in distribution of electricity in selected areas in Andhra Pradesh, said an official statement. Our Bureau
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