REC, Bank of Baroda join hands to finance power, infra, logistics projects
State-owned REC Ltd has inked an initial pact with Bank of Baroda to jointly offer loans for power, infrastructure and logistics projects in India over the next three years.
By pooling resources and expertise, both entities endeavour to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide, a power ministry statement said.
According to the statement, REC has signed a Memorandum of Understanding (MoU) with Bank of Baroda to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years.
