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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.

(This article was published in the Business Line print edition dated June 1, 2006)
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