L&T Finance arm closes $100-million external commercial borrowing from Asian Infrastructure Investment Bank

L&T Infrastructure Finance Company, a subsidiary of L&T Finance, has bagged a $100-million external commercial borrowing (ECB) loan from Asian Infrastructure Investment Bank (AIIB). The company has received the first tranche of $50 million, of the total $100 million ECB, it said in a release. The loan proceeds will be used to on-lend to large and mid-scale wind and solar power infrastructure projects in India.

Dinanath Dubhashi, MD and CEO of L&T Finance, said, “Investments from an organisation like AIIB, that 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.”