REC raises 31.96 billion Japanese yen through 5-year green loan

India Japan city Gift Citi CEO Sustainability WhatsApp wellness

12.07.2024 - 13:33

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economictimes.indiatimes.com:

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch.

The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India, REC said in a statement.

“This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India,” said Vivek Kumar Dewangan, CMD, REC.

The transaction marked one of the first yen-denominated green loan transactions for Deutsche Bank through its Gift City branch.

“Our collaboration with REC underscores our steadfast commitment to advancing environmentally responsible initiatives and promoting sustainable financing within India,” said Kaushik Shaparia, CEO, Deutsche Bank Group, India said.

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