IRFC secures USD 300 million ECB loan from Sumitomo Mitsui Banking Corporation for rail projects
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CNBC Awaaz•02/12/2025
IRFC secures USD 300 million ECB loan from Sumitomo Mitsui Banking Corporation for rail projects
- •IRFC has signed a USD 300 million loan deal with Sumitomo Mitsui Banking Corporation (SMBC).
- •The agreement was signed in GIFT City, Gujarat.
- •Funds will be used for railway infrastructure projects, including new coaches, engines, and technological upgrades.
- •The loan has a tenor of 5 years and is linked to the Tokyo Overnight Average Rate (TONAR).
- •IRFC aims to reduce borrowing costs and strengthen railway-related projects through international funding.
Why it matters: IRFC's deal with Sumitomo Mitsui boosts affordable funding for railway infrastructure.
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