AIIB extends $50 mn loan to L&T Infra Finance for Renewable Energy

Asian Infrastructure Funding Financial institution (AIIB) has launched $50 million within the first tranche of help to L&T Infrastructure Finance Ltd for funding Renewable Power tasks within the nation.

The Bejing-based a multilateral growth financial institution, which invests in sustainable infrastructure, has sanctioned complete $100 million mortgage to unit of L&T Finance Holdings. That is AIIB’s first mortgage to a non-banking monetary firm (NBFC) in India, the corporate stated in a press release.

The mortgage proceeds will likely be used to on-lend to giant and mid-scale wind and solar energy infrastructure tasks in India. With the closure of this financing take care of AIIB, LTIF has additional diversified its long-term funding sources.

Dinanath Dubhashi, Managing Director & CEO, L&T Finance Holdings stated that lending to scrub vitality goes past the precise guide and the corporate has constructed an ecosystem for all stakeholders to be part of the inexperienced vitality initiative.

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