India’s First Yen and Green Loan Availed By REC

  • REC Limited, a Maharatna Central Public Sector Enterprise, has secured a Green Loan of Japanese Yen (JPY) 60.536 billion to finance green projects in India. 
  • The loan facility is backed by an 80% guarantee by Italian Export Credit Agency, SACE (Italy), under their innovative Push Strategy program. 
  • The green loan facility is a first-of-its-kind collaboration between an Indian government entity and SACE. 
  • The loan has loan participation from banks across Asia, the USA, and Europe, with Crédit Agricole Corporate and Investment Bank acting as the Export Credit Agency Coordinator, Green Loan Coordinator, Documentation Bank, and Facility Agent. 
  • The green loan demonstrates REC’s commitment to supporting projects that meet rigorous environmental standards, promote renewable energy, and contribute to reducing carbon emissions. 
  • The collaboration is expected to pave the way for more such collaborations, enhancing Indo-Italian business relationships in green energy financing and sustainable projects. 
  • REC Ltd. provides loans of various maturities to State, Central, and Private Companies for the creation of infrastructure assets in the country.
Posted in Current Affairs.