IIFCL to take up the role of 'sole lender' for infra projects

India Infrastructure Finance Company Ltd (IIFCL) has been allowed to take up the role of 'sole lender' for infrastructure projects even after the exit of other banks funding such projects.

This approval has come after the IIFCL Board recommended this facility to boost infrastructure financing in the country.

This would help in project financing for longer duration – for most part of the concession period – and thereby provide comfort to developers as regards availability of long-term funds to projects.

Till now, IIFCL could lend to infrastructure projects only as part of a lenders’ consortium that included banks.