The Asian Infrastructure Investment Bank (AIIB) will gve a $100-million loan to L&T Infrastructure Finance Company for wind and solar infrastructure projects in India. This is the first time AIIB is extending a loan to a non-banking finance company.
“The Asian Infrastructure Investment Bank’s latest project will increase the supply of renewable energy in India by mobilising private capital,” AIIB said in its statement. The release added, “The project provides a $100-million loan to L&T Infrastructure Finance Company (LTIF), a subsidiary of L&T Finance Holdings and a leading non-bank financier of renewable energy in India.”
L&T Infrastructure Finance’s collaboration with AIIB is also expected to help the company tap international market for finance. Read more