SBI signs MoU with NIIF to finance infrastructure projects

SBI signs MoU with NIIF to finance infrastructure projects

SBI signs MoU with NIIF to finance infrastructure projects

India’s largest lender Bank, the State Bank of India (SBI), has signed a memorandum of understanding (MoU) with National Investment and Infrastructure Fund (NIIF)  to boost availability of capital for infrastructure projects.

The objective of this initiative is to aid in filling the gap at a time when the availability of equity and debt financing for infrastructure has moderated.

The scope of the agreement includes equity investments, project funding, bond financing, renewable energy support and take-out finance for operating assets.

SBI extended loans of about Rs 51,000 crore to 47 infrastructure projects during the financial year of 2018-19.