PNB joins hands with IIFCL to provide financing for infrastructure projects

This MOU would be a milestone in finding new avenues of lending to the infrastructure projects of the country and they assured full participation from both sides in this endeavour, it said.

PNB joins hands with IIFCL to provide financing for infrastructure projects

State-Owned Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL), signed an agreement to offer long-term financial assistance to viable infrastructure projects.

 Both the institutions will now collaborate to fund the infrastructure projects which would make the parties to mutually participate under consortium or multiple lending arrangements to provide financial support to the prospective borrowers subject to due diligence and on a case-to-case basis, a joint statement said.

Read Also : Lalit Bohra appointed as Govt. Nominee Director on PowerGrid Board

A signing ceremony for the Memorandum of Understanding (MoU) took place in the presence of Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL, it said.

This MOU would be a milestone in finding new avenues of lending to the infrastructure projects of the country and they assured full participation from both sides in this endeavour, it said.

Read Also : Coal India distributes Eco-Friendly bags