The government of India and the Asian Development Bank (ABD) signs three separate loans in one day of worth USD 574 million in the capital of India to support the projects India Infrastructure Finance Company Limited (IIFCL) in India, water and sanitation services in Tamil Nadu, and Hydropower Transmission in Himachal Pradesh.
Infrastructure Finance Company Limited
- Eatablished in 2006, IIFCL also referred as SIFTI, is a government of India company.
- IIFCL provides financial assistance to the infrastructural sub-sectors listed by the government or the RBI which broadly include transportation, energy, water, sanitation, communication, social, and commercial infrastructure
- The ADB and the government signed a loan agreement of USD 300 million to support IIFCL
- This project is believed to enhance the availability of long-term finance for PPP projects, improve the operational capacity of IIFCL, and expand the portfolio of infrastructure financing instruments available to IIFCL Read More