International Bank for Reconstruction and Development (IBRD) has confirmed a $135 million loan to West Bengal to develop the efficiency and reliability of electricity supply in the state. The IBRD and the International Development Association (IDA) are collectively also called the World Bank.

“The financial security of electricity firms to giving efficient to people. The Covid-19 pandemic has affected the financial health of electricity distribution firms in India. In turn, the electricity generation companies,” World Bank‘s Country Director in India Junaid Ahmad said in a statement.

The West Bengal Electricity Distribution and Grid Modernisation Project intends to decrease the distribution system, grow the capacity of the distribution network to meet the growing load demand, enhance the overall security of the system, make the network flexible to climate disasters, and improve the institutional capacity, the state distribution company. Economic growth in West Bengal has resulted in rising electricity demand at a rate of 4.5 per cent in the last five years. The number of consumers has over doubled in the previous six years to nearly 20 million consumers under the state distribution company.