Availability of long-term finance for infrastructure projects challenge: Official

Availability of long-term finance for infrastructure projects in the country is a challenge, which calls for changes in financial regulation as such development initiatives have lengthy gestation periods, an official said on Wednesday. Speaking at a webinar organised by BCCI, state-run IIFCL Managing Director P R Jaishankar said, “Majority of funds for infrastructure used to come from banks. Presently, banks have been replaced by non-banking finance companies and infrastructure financing companies.”