Mumbai, May 31
The German bilateral KfW has extended a 54 million Line of Credit facility to IL&FS, guaranteed by the Government, with a specific mandate to finance private sector infrastructure projects. The KfW Loan is a three-tier financing package involving German Government funds for a tenor of 40 years, market funds guaranteed by German Government for a tenor of 12 years and direct market funds for a tenor of 15 years. KfW has also agreed to provide a grant component of 7,50,000 towards project development initiatives. The formal agreement for the loan has been signed.