SREI raises $45 mn from FMO to fund infra devp

Kolkata, Sept 15: The Netherlands Development Finance Company FMO would provide a long-term syndicated loan of USD 45 Million (Rs 210 crore) to SREI Infrastructure Finance Limited, the leading infrastructure finance company.

The cooperation agreement has been signed in New Delhi today, the company said in a statement.

FMO has been stakeholder of SREI since the last ten years. The agreement would facilitate one of the large investment commitments by FMO in India.

As lender of record FMO expands SREI's funding basis by attracting long-term investors, namely Fortis Bank,Belgium and Cordiant Bank,Canada, in the syndicate.

Furthermore FMO supports SREI on environmental and social reporting issues.

Wim Wienk Regional Director, FMO signed the agreement with SREI.

"This amount will also provide us with the funds to extend assistance to small and medium enterprises involved in the infrastructure sector in India," SREI Vice- Chairman Managing Director Hemant Kanoria said.

UNI