The Bank has been actively involved in the reform and development of the transmission sector in India, and specifically in the creation and strengthening of the Power Grid Corporation of India.

The World Bank has made three direct loans to Power Grid since 1993. During this period, the company has nearly tripled its transmission network, its assets have grown more than eight-fold to US$7.3 billion, and revenues have increased more than six times to over US$1 billion.

"The Bank's partnership with Power Grid represents a sound and replicable model for engagement with middle income countries," said Pedro Sanchez, World Bank Senior Energy Specialist and team leader for the project.

"The current project is part of the Bank's long term partnership with Power Grid, initiated when the company was established in 1989.

"During this period, the Bank has assisted Power Grid to achieve world-class operations and management by financing $2.37 billion of its investment programme and supporting its progress towards strengthening its technical capabilities, improving corporate governance, enhancing institutional capacities, and diversifying its business lines."