February 08, 2025 07:23 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Development wins, tweets PM Narendra Modi after thumping victory in Delhi Assembly polls | 'Hope BJP fulfills people's expectations': Arvind Kejriwal after BJP ends AAP rule in Delhi | Delhi CM Atishi wins from Kalkaji saving AAP's modesty as top guns bite the dust | Arvind Kejriwal was carried away by wealth: Anna Hazare after AAP's Delhi ouster | Delhi Assembly polls: Arvind Kejriwal loses New Delhi seat, BJP set to form government | BJP returns to power in Delhi after 27 years, defeats AAP | More voters in Maharashtra than its adult population: Rahul Gandhi alleges irregularities in voting | Fire breaks out at Maha Kumbh Mela in Prayagraj, no casualty reported | Calcutta HC rejects Bengal govt's plea seeking death penalty for RG Kar convict Sanjoy Roy | RBI cuts repo rate by 25 basis points, first in five years
IRFC
The loan agreements will be signed during Japanese PM Fumio Kishida's India visit this week. (Image Credit: wikipedia.org)

IRFC to raise $ 1.1 billion from Japanese lenders to finance Indian Railways' green initiatives: Report

| @indiablooms | Mar 14, 2022, at 04:25 am

New Delhi: Indian Railways Finance Corp (IRFC) has decided to raise $1.1 billion (about 130 billion yen, or Rs 8,440 crore) through a yen-denominated syndicated offshore loan to finance the green initiatives of the India Railways, ET reported.

According to the report, Japan-based Mizuho Bank, MUFG and Sumitomo Mitsui Banking Corp (SMBC) are expected to sign an agreement for the loan during Japanese Prime Minister Fumio Kishida’s India visit this week.

The Indian Railways plans to use the proceeds for reducing its dependence on fossil fuels with measures like electrification of its tracks and addition of electric locos.

The loan may be raised in two tranches: a seven-year loan of $400 million and $700 million for 10 years, the people in the know said, the ET report stated.

The Indian Railways is reportedly working towards becoming the largest green railway in the world with the aim to achieve "net zero carbon emitter” by 2030.

IRFC is the official financier of Indian Railways.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm