Power Finance Corporation (PFC) Limited has signed a loan agreement for JPY 30 billion with Japan Bank for International Cooperation (JBIC).
The long term facility has been provided by JBIC to PFC under its initiative titled Global action for Reconciling Economic growth and Environmental preservation (GREEN), wherein JBIC provides financing for projects which ensure the effective reduction of greenhouse gas emissions and conservation of the global environment. Thus, the funds under the facility would be used by PFC to finance its renewable energy portfolio. The facility from JBIC would be a landmark transaction demonstrating the Quad Partners’ strong unity and robust commitment to the Indo-Pacific region, while also enhancing the bilateral cooperation between Japan and India. This facility would also help PFC in providing competitive rates for renewable power projects.