AIIB provides USD 50 mn to L&T Infra Finance for renewable energy

L&T Infrastructure Finance Company Ltd (LTIFCL) has received USD 50 million from the Asian Infrastructure Investment Bank (AIIB), for funding Renewable Energy projects in the country.
The loan amount is first tranche of the total USD 100-million ECB (External Commercial Borrowing) loan approved by Beijing-based AIIB.
The fund will be used for on-lending large and mid-scale wind and solar power infrastructure projects in India.
Also, this is the first loan by AIIB to a non-banking financial company (NBFC) in India.