MOU
PFC signs a Loan Agreement for EUR 200 million with KfW
NEW DELHI . PFC has signed a Loan Agreement for EUR 200 million with KfW on 1st Nov, 2019 which is a financial assistance from Government of the Federal Republic of Germany. PFC will on-lend these funds for development of the distribution infrastructure of State-owned Companies.
Agreement has been signed by Shri Rajeev Sharma, CMD, PFC and Dr. Christoph Kessler, Director, KfW Office, India and exchanged in the presence of Shri Sanjiv Nandan Sahai, Secretary, Power, Govt. of India, Shri Vivek Kumar Dewangan, Joint Secretary, Ministry of Power, Govt. of India, Shri Morbert Barthle, Parliamentary State Secretary, Federal Ministry for Economic Cooperation & Development and Shri Christian Hirte, Parliamentary State Secretary, Federal Ministry for Economic Affairs & Energy of Germany.
CMD, PFC has informed that the loan carries a concessionalrate of interest and will help PFC fund State Discoms and reduce its cost of borrowing.
News Must Read
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station
- REC Ltd. has incorporated subsidiary company BPTL
- Hon’ble Vice President of India Confers `Outstanding PSU of the Year’ Award on HAL
- BharatPe Launches India’s first All-in-One Payment Device
- NBCC registers historical Performance in FY2023-24
- RuPay Unveils Link it, Forget it Campaign at IPL 2024 to Promote RuPay Credit Card on UPI