PERFORMANCE BUDGET 1998-99 - Ministry of Power
PERFORMANCE BUDGET 1998-99 - Ministry of Power
PERFORMANCE BUDGET 1998-99 - Ministry of Power
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(bullet) Euro Notes equivalent to Rs.355.56 crore in the month <strong>of</strong> July, 1<strong>99</strong>7 at a very<br />
competitive pricing <strong>of</strong> 7.5% the lowest that an India issuer got in the recent times.<br />
The World Bank and the Asian Development Bank are already assisting PFC to finance<br />
certain specified categories <strong>of</strong> Projects.<br />
WORLD BANK<br />
The loan <strong>of</strong> US $ 265 million (Revised to US $ 240 million) from World Bank for<br />
<strong>Power</strong> Utilities Efficiency improvement Project routed through Government <strong>of</strong> India<br />
became effective from 18.3.92. Till March,‘98, the Corporation has sanctioned US $<br />
258.21 million against US $ 220 million and for Pre-Investment Fund the Corporation<br />
has sanctioned US $ 36.98 million against US $ 20 million till March,<strong>1<strong>99</strong>8</strong>. The<br />
Corporation has sent claims for US $ 190.39 million to Government <strong>of</strong> India equivalent<br />
to Rs.675.90 crore upto March,‘98. In addition to this the Pre-Investment Fund (PFC’s<br />
resources), the Corporation has sanctioned Rs.43.64 crore for 10 loans.<br />
ASIAN DEVELOPMENT BANK<br />
The loan <strong>of</strong> US $ 250 million from ADB under <strong>Power</strong> Efficiency (Sector) Project<br />
routed through the Government <strong>of</strong> India became effective from 22.7.92. The loan is to<br />
finance sub-projects <strong>of</strong> selected SEBs. The Corporation has sanctioned US $ 289 million<br />
against US $ 250 million till March, <strong>1<strong>99</strong>8</strong> and claims submitted to Government was<br />
US $ 151.96 million equivalent to Rs.540.<strong>99</strong> crore.<br />
ODA<br />
The ODA <strong>of</strong> UK signed an agreement with Government <strong>of</strong> India on 17.9.93 under<br />
Energy Efficiency Programme, under which a Project for Renovation and uprating <strong>of</strong><br />
Hirakud Hydro <strong>Power</strong> Station <strong>of</strong> Orissa State Electricity Board (OSEB) has been<br />
approved. The fund are to be canalized through PFC. The PFC has sanctioned a sum <strong>of</strong><br />
US $ 23.52 million against US $ 44.85 million till March, <strong>1<strong>99</strong>8</strong> and claim submitted to<br />
Government <strong>of</strong> India for US $ 17.89 million equivalent to Rs.63.52 crore.<br />
KFW<br />
PFC signed loan agreement with Kreditanstalt for wiederaufbau (KFW) in June, 1<strong>99</strong>5<br />
for a mixed credit <strong>of</strong> DM 46.5 million under Energy Investment programme, for being<br />
92
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