State Bank of India, the country’s largest lender, and National Infrastructure Investment Fund, the country’s sovereign wealth fund, announced on Monday that they have tied up to “provide a boost to infrastructure financing,"
The two institutions have signed a Memorandum of Understanding (MoU), to make equity investments, project funding, bond financing, renewable energy support and take-out finance for operating assets.
The tie up aims to fill the gap at a time when the availability of equity and debt financing for infrastructure has moderated, the statement said.
Sujoy Bose, Managing Director and CEO, NIIF, said, “The availability of post-construction take-out equity and debt financing for developers and builders of infrastructure projects will play an important role in the infrastructure development cycle in India. NIIF’s partnership with SBI will allow us to design large-scale long-term financing solutions to address this need."