PNB teams up with IIFCL for infrastructure project financing

05 Jun 2024 CW Team

Punjab National Bank (PNB) and India Infrastructure Finance Company (IIFCL) entered into an agreement to provide long-term financial assistance to viable infrastructure projects. According to a joint statement, the institutions will collaborate to fund such projects through consortium/multiple lending arrangements, subject to due diligence and on a case-to-case basis.

The Memorandum of Understanding (MoU) was signed at a ceremony attended by Atul Kumar Goel, the MD & CEO of PNB, and Padmanabhan Raja Jaishankar, the MD of IIFCL.

The statement mentioned that this MOU marks a significant step in discovering new avenues for lending to the country's infrastructure projects. It was further stated that both parties pledged their full participation in this initiative.

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