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dam-l WB + small hydro -> REUTERS <fed> courtesy Planet ARK
<bold><color><param>FF00,0000,0000</param><FontFamily><param>Arial</param><bigger><bigger>World Bank loan for Indian hydro
projects </bold><color><param>0100,0100,0100</param><FontFamily><param>Times New Roman</param><smaller>
</color><FontFamily><param>Arial</param><smaller><smaller>INDIA : June 30, 2000
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<bold></color><FontFamily><param>Arial</param><smaller>NEW DELHI - The World Bank will lend $130 million to
help finance small private sector hydro-power projects in
India's northern and central states, the bank said in a
statement yesterday.</bold><color><param>0100,0100,0100</param><FontFamily><param>Times New Roman</param><bigger>
</color><FontFamily><param>Arial</param><smaller>"India will expand the development of renewable energy
projects and private sector energy efficiency investments with
the help of the $130 million in financing from the World Bank
and a $5 million grant from the Global Environment Facility
(GEF)," the statement said.
The Indian Second Renewable Energy Project provides a line of
credit for private sector financing of small hydro-power stations
of up to an aggregate of 200 megawatts to reduce power supply
shortages and greenhouse gas emissions, the bank said.
The funds will be channelled through the Indian Renewable
Energy Development Agency (IREDA).
Of the total cost of $300 million, project developers will
contribute $140 million, IREDA $25 million and GEF will provide
a $5-million grant.
"The World Bank will provide $80 million single-currency,
LIBOR-based loan with 20 years to maturity, five years of
grace, and a $50-million interest-free IDA (International
Development Association) credit with 35 years to maturity with
10 years of grace," the bank said. <color><param>0100,0100,0100</param><FontFamily><param>Times New Roman</param><bigger>
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REUTERS NEWS SERVICE
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