IIFCL sanctions loans worth 8,800 cr to develop civil

09 Oct 2023 CW Team

India Infrastructure Finance Company Limited (IIFCL) has greenlit loans amounting to Rs 8,800 crore to foster the growth of airports and civil aviation infrastructure within the nation, according to Managing Director PR Jaishankar. The Indian government harbors ambitious plans for advancing the civil aviation sector, recognizing that substantial investments are pivotal to realizing these aspirations.

Jaishankar revealed, "To date, IIFCL has approved loans totaling approximately Rs 8,800 crore, with disbursements reaching around Rs 4,000 crore, specifically designated for the development of airport projects." The company stands as a prominent financial contributor to airport projects across India, having extended support to these ventures with a combined project outlay of roughly Rs 74,000 crore. Additionally, Jaishankar emphasized that IIFCL maintains a notable presence across nearly all major airports in the country.

This strategic allocation of funds by IIFCL underscores the crucial role of financial institutions in fostering the growth and modernization of India's civil aviation infrastructure. These developments are aligned with the government's vision to elevate the aviation sector, which plays a pivotal role in India's economic and transportation landscape.

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