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Private Sector | Multi State - India | PID: 202829
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REC has successfully availed a SACE-Covered Green Loan for JPY 60.536 billion to finance eligible green projects in India. This strategic investment reinforces REC’s commitment to foster sustainable growth, in alignment with the Company’s Green Finance Framework.
The green facility benefits from an 80% guarantee by Italian Export Credit Agency, SACE (Italy) under their innovative Push Strategy programme.
The facility also marks SACE’s first JPY-denominated loan transaction and first green loan transaction in India.
The Green Loan has loan participation from banks across Asia, USA and Europe, namely Crédit Agricole Corporate and Investment Bank, Bank of America, Citibank, KfW-Ipex Bank and Sumitomo Mitsui Banking Corporation as Mandated Lead Arrangers with Crédit Agricole Corporate and Investment Bank acting as the ECA Coordinator, Green Loan Coordinator, Documentation Bank and Facility Agent.
| Updated on: 02 - May - 2024
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