India and Japan Forge Ahead with 60 Billion Yen Clean Energy Pact

Power Finance Corporation and Japan Bank for International Cooperation signed a loan agreement for 60 billion Japanese Yen to finance clean energy projects in India, advancing sustainable development and strengthening economic ties under the GREEN initiative.

Power Finance Corporation (PFC) and Japan Bank for International Cooperation (JBIC) have entered a loan agreement valued at 60 billion Japanese Yen, equivalent to around Rs 3,500 crore, aimed at financing clean energy projects in India.

The agreement, part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation initiative, marks a pivotal moment in strengthening India-Japan economic relations while contributing significantly to sustainable development.

Signings took place in Tokyo, involving PFC CMD Parminder Chopra and JBIC Governor Nobumitsu Hayashi, with further agreements involving Sumitomo Mitsui Banking Corporation to support Assam Bio Ethanol Pvt Ltd's innovative bio-ethanol plant project in Assam.

(With inputs from agencies.)