Exim Bank secures 150-mn euro loan to fund green projects

Last Updated: Thursday, May 9, 2013 - 23:37

Mumbai: The Exim Bank on Thursday said it has signed an agreement for a 20-year 150-million euro laon from the European Investment Bank (EIB) to support projects that contribute to climate change mitigation.

The borrowings under the facility will enable Exim Bank to lend for energy projects, notably wind, solar photovoltaic, concentrated solar power, hydro-power, geothermal, biomass and efficient co-generation, Exim bank said in a statement.

This is the second credit line extended by the EIB to Exim Bank. The EIB, owned by the member-states of the European Union, is a major long-term lending institution with annual loan approvals exceeding USD 80 billion.

Exim Bank has been raising foreign currency resources from the international markets, which constituted around 51 percent of its borrowings as on March, 2013.

PTI

First Published: Thursday, May 9, 2013 - 23:37

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