PNB and IIFCL Join Forces to Bolster Infrastructure with Long-Term Financial Support

Punjab National Bank and India Infrastructure Finance Company Ltd have signed an agreement to offer long-term financial assistance to viable infrastructure projects in India. The collaboration aims to provide funding under consortium/multiple lending arrangements, enhancing infrastructure development in the country.


PTI | New Delhi | Updated: 03-06-2024 18:37 IST | Created: 03-06-2024 18:37 IST
PNB and IIFCL Join Forces to Bolster Infrastructure with Long-Term Financial Support
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In a significant move aimed at bolstering India's infrastructure landscape, Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) have entered into a strategic agreement to provide long-term financial assistance to viable infrastructure projects.

According to a joint statement, the partnership will enable both institutions to collaborate and fund infrastructure projects through consortium/multiple lending arrangements, ensuring due diligence and case-by-case evaluation of prospective borrowers.

The Memorandum of Understanding (MoU) was ceremonially signed in the presence of Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL, marking a milestone in infrastructure lending and affirming committed participation from both parties.

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