
Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) have signed an agreement to provide long-term financial assistance to viable infrastructure projects. This collaboration between the two institutions aims to fund infrastructure projects through consortium or multiple lending arrangements. By offering financial support to prospective borrowers, both parties will engage in due diligence and evaluate projects on a case-by-case basis.
The Memorandum of Understanding (MoU) was signed during a ceremony attended by Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL. This agreement marks a significant milestone in exploring new avenues for lending to infrastructure projects in the country. Both institutions have expressed their commitment to actively participate in this endeavor.
This partnership between PNB and IIFCL will contribute to the development and growth of infrastructure in India, providing much-needed financial support to viable projects.