IIFCL Allocates Bn in Loans to Enhance India Aviation Sector

09 Oct 2023 CW Team

In a significant move aimed at bolstering India's aviation sector and its infrastructure, the India Infrastructure Finance Company Limited (IIFCL) has approved loans worth ?8.8 billion, as announced by Director PR Jaishankar on Sunday.

Mr. Jaishankar revealed, "To date, IIFCL has given the green light to loans amounting to approximately ?78.8 billion, with disbursements exceeding ?4 billion, dedicated to the advancement of airport projects."

He emphasised the pressing need for substantial investments in the industry to realise the ambitious goal of advancing the civil aviation sector in India. Serving as a key financier for airports across the nation, IIFCL has extended its support to airport projects with an overall project outlay of about ?77.4 billion. Mr. Jaishankar underscored IIFCL's extensive presence in virtually all major airports throughout the country.

This move by IIFCL is expected to play a pivotal role in further enhancing India's aviation infrastructure and facilitating the growth of the aviation industry within the nation.

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