PFC inks loan pact for Euro 200 Million with KfW

State-run Power Finance Corporation (PFC) on Friday said it has signed an agreement with German development bank KfW for a 200 million euro loan. The PFC will on-lend these funds for the development of the distribution infrastructure of state-owned companies, a PFC statement said.

According to a statement the agreement has been signed by Rajeev Sharma, CMD, PFC, and Dr. Christoph Kessler, Director, KfW Office, India. The loan carries a concessional rate of interest and will help the PFC fund state discoms and reduce its cost of borrowing, according to the PFC CMD.