MoU between PFC and Exim Bank of USA
A Business Correspondent
A memorandum of understanding has been signed by Satnam
Singh, Director (Finance & Financial Operations), Power Finance Corporation, and
James H. Lambright, Chairman Ex-Im Bank of USA, for the facility of availing
special delegated line of credit to be used by the borrowers of PFC for project
related imports from USA during the next two years. The use of the facility will
be subject to the approval of Reserve Bank of India and it will not require any
guarantee from the Government of India.
Export Import Bank of the United States has recently approved India
Infrastructure Facility that will support US exports to Indian projects in
sectors such as power and renewable energy generation etc. PFC is one of the
financial institutions approved under this India Infrastructure Facility with a
proposed allocation of $800 million.
[May 26-June 1, 2008]