The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) has raised $100 million through an external commercial borrowing (ECB) loan from Japan’s MUFG Bank Ltd, the bank said in an email statement.
The loan gas been backed by a credit enchancement guarantee by the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. “This landmark transaction, to be facilitated through MUFG Bank’s GIFT branch, will mark the first-ever commercial financing for DFCCIL and debut MIGA-covered transaction in India,” MUFG said in a statement.
