State-owned Power Finance Corporation (PFC) on Friday said it has become the first government firm to collaborate with SACE, an Italian export credit agency, to boost the cooperation between the two countries.
PFC is partnering with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its ‘Push Strategy’ initiative, according to a statement.
This proposed partnership will position PFC as the first government-owned entity in India to partner with SACE under this initiative.
Through this structure, PFC will benefit from an 80 per cent guarantee from SACE, with HSBC acting as a coordinating bank, lead arranger and facility agent for the financing of up to 200 million euros.
