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National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday. Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked it to introduce a structured partial credit enhancement facility towards deepening bond markets, including for urban local bodies and municipalities. To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution. Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years. "NaBFID will sanction over Rs 3 lakh crore by March 2026," the ministry said in a release. It will continue its focus on infrastructure ...
After much delay in the formation of the National Investment and Infrastructure Fund, a beginning is set to be made with India holding last-mile discussions with the United Arab Emirates (UAE) and Qatar. Some half a dozen road projects are likely to be put on offer to the NIIF in the first lot.The UAE, through its sovereign fund, the Abu Dhabi Investment Authority (ADIA), will invest in the NIIF. "Talks with the UAE are nearing finalisation. A team from the NIIF had recently visited Abu Dhabi. After the UAE, Qatar is likely to subscribe to the fund," said a senior government official.The setting up of the NIIF was delayed because the ADIA had insisted on a non-government company structure for it. Since now the NIIF is in place with Sujoy Bose, former director and global co-head, infrastructure and natural resources, International Finance Corporation, as its chief executive officer, the formal subscription to the fund is expected to happen soon.The ministry of road transport has ...