L&T Infra Finance Gets $100 Million Loan from AIIB

L&T Infrastructure Finance Company Ltd, a wholly-owned subsidiary of L&T Finance Holdings Ltd, has received the first tranche of $50 million of the total $100 million of an external commercial borrowing from the Beijing-headquartered Asian Infrastructure Investment Bank (AIIB). While AIIB typically lends to large infrastructure projects in India, this marks its first loan to a non-banking financial company. The loan proceeds will be used to on-lend to large and mid-scale wind and solar power infrastructure projects in India, the company said. The proposed financing supports AIIB's Sustainable Energy for Asia Strategy and Strategy on Mobilizing Private Capital for Infrastructure. L&T Infrastructure Finance is a leading arranger and financier of renewable energy in India.