PFC gets $800 mln credit from Exim bank of US

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New Delhi, May 15 (UNI) State-owned Power Finance Corporation (PFC) has signed a memorandum of understanding (MoU) with export-import (Exim) bank of United States for an 800 million dollars credit line for funding energy projects in the country.

The credit facility can be used by PFC's borrowers in importing equipments from the U S for projects in power and renewable energy generation, an official statement said today.

The PFC's borrowers can make project-related imports from the US during next two years. This credit facility will be subject to approval by the Reserve Bank but will not require any guarantee from government, the statement added.

The PFC is a listed 'navratna' company focused on power sector financing and integrated development of the power and associated sectors.

UNI SAA MP CS1925

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