US Exim Bank grants $800 mln loan to Power Finance Corp

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New Delhi, May 14 (UNI) State-run Power Finance Corporation Ltd (PFC) today said it has signed a loan agreement with US-based Exim Bank for 800 million dollars under the latter's India infrastructure facility.

The loan will be used by PFC to support US exports to Indian projects in sectors such as power and renewable energy generation in the next two years, a statement said.

The special delegated line of credit under this facility will be subject to the approval of RBI and will not require any guarantee from the Government of India, the statement added.

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