This story is from July 08, 2020
L&T Infra gets $100m AIIB loan
Mayur.Shetty@timesgroup.com
The loan proceeds will be used to finance large- and mid-scale wind and solar power infrastructure projects in India. AIIB will help L&T Infrastructure bolster its environmental and social capabilities, which will enable it to tap the international market for green finance.
“Investments from an organisation like AIIB — which follows a stringent due diligence process of the company’s capacity, viability, past performance and regulatory compliances, before any investments — reiterates our commitment to green project financing,” said L&T Finance Holdings MD & CEO Dinanath Dubhashi.
L&T Infrastructure will put in place an environment & social monitoring system that will be expanded to include screening, categorising, appraisal, contracting and monitoring of sub-projects supported by AIIB in accordance with the
Asian Infrastructure Investment Bank
(AIIB
) has released the first tranche of $50 million of a $100-millionexternal commercial borrowing
(ECB
) sanctioned to L&T Infrastructure Finance (LTIF
), the wholly-owned subsidiary of L&T Finance Holdings. This is the first loan by the multilateral development bank, which invests in sustainable infrastructure, to a non-banking financial company in India.The loan proceeds will be used to finance large- and mid-scale wind and solar power infrastructure projects in India. AIIB will help L&T Infrastructure bolster its environmental and social capabilities, which will enable it to tap the international market for green finance.
“Investments from an organisation like AIIB — which follows a stringent due diligence process of the company’s capacity, viability, past performance and regulatory compliances, before any investments — reiterates our commitment to green project financing,” said L&T Finance Holdings MD & CEO Dinanath Dubhashi.
L&T Infrastructure will put in place an environment & social monitoring system that will be expanded to include screening, categorising, appraisal, contracting and monitoring of sub-projects supported by AIIB in accordance with the
AIIB Environmental and Social Standards
(ESS).Popular from Business
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