PFC signs a loan agreement for eur 200 million with kfw
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 SanjivNandanSahai, Secretary, Power, Govt. of India, Shri Vivek Kumar Dewangan, Joint Secretary, Ministry of Power, Govt. of India, Shri Norbert Barthle, Parliamentary State Secretary, Federal Ministry for Economic Cooperation & Development andShri Christian Hirte, Parliamentary State Secretary, Federal Ministry for Economic Affairs & Energy of Germany.
CMD, PFC has informed that the loan carries a concessional rate of interest and will help PFC fund State Discoms and reduce its cost of borrowing.