Indian Government Official Press Release

State Bank of India (SBI) and National Investment and Infrastructure Fund (NIIF)join hands to provide a greater thrust to infrastructure financing

Mumbai, India: State Bank of India and National Investment and Infrastructure Fund (NIIF) have today inked a Memorandum of Understanding (MoU) to boost the availability of capital for infrastructure projects. The scope of the MoU includes equity investments, project funding, bond financing, renewable energy support, and take-out finance for operating assets. The objective of this initiative is to aid in filling the gap at a time when the availability of equity and debt financing for infrastructure has moderated. On the sidelines of the signing event, Rajnish Kumar, Chairman, SBI said, “Today on the auspicious occasion of 64 the Bank’s Day, SBI, and NIIF have joined hands to provide a suite of financing solutions to the Infrastructure sector. The initiative will address concerns relating to the availability of equity and long term debt funding options to large scale projects thereby stimulating infrastructure development”. Sujoy Bose, Managing Director, and CEO, NIIF said, “The availability of postconstruction take-out equity and debt financing for developers and builders of infrastructure projects will play an important role in the infrastructure development cycle in India. NIIF’s partnership with SBI will allow us to design large-scale long-term financing solutions to address this need. We are delighted to sign …