IIFCL to refinance 60% of bank loans for public-private projects.

Our Bureau

Mumbai, Feb. 16 Banks may get more headroom to lend to infrastructure projects as the UPA Government, in its interim Budget, has indicated that India Infrastructure Finance Company Ltd (IIFCL) would refinance 60 per cent of commercial bank loans for public-private partnership (PPP) projects in critical sectors over the next 18 months or so.

Bankers say that lending rates for infrastructure projects could come down, subject to the refinance rate being competitive and funds being available for a longer period. The Budget, however, is silent on the refinance rate as well as the tenure for which refinance would be available.

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Posted by boyang at February 16, 2009 7:18 PM