REC signs 200 million Euro loan agreement
This is REC’s sixth line of credit under Indo-German Development Cooperation.
New Delhi: REC Ltd. signed a 200 million Euro loan agreement with the German bank, KfW in New Delhi on 8th December 2023. This is REC’s sixth line of credit under Indo-German Development Cooperation, which will be utilised to re-finance investments in the distribution infrastructure of DISCOMs, in alignment with GoI’s Revamped Distribution Sector Scheme (RDSS).
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYMr Tsc Bosh, ED (BDM, I&L), along with Ms. Valli Natarajan, ED (SOP) and Mr. S. Rastogi, CGM (BDM), graced the signing ceremony on behalf of REC. Ms. Carolin Gassner, Director (South Asia), Mr Wolf Muth, Country Director (India) and Dr. Juergen Welschof, Head of the Division, represented KfW along with officials from the German Embassy.
This occasion marks yet another significant step in REC's commitment to reform the power distribution sector in the country.
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