Indian Railway Finance Corporation (IRFC) extends Rs 9,821 crore loan to Dedicated Freight Corridor Corporation of India Ltd (DFCCIL)

Key facts

• Indian Railway Finance Corporation (IRFC) provided a Rs 9,821 crore loan to the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).
• The rupee-denominated term loan is intended to refinance foreign currency debt taken from the World Bank for the Eastern Dedicated Freight Corridor project.
• The refinancing fully covers the existing World Bank loans, shifting the debt to local funding solutions to reduce exchange rate volatility.
• The agreement was signed by Rahul Kapoor, Director (Finance) of DFCCIL, and Deepa Kotnis, Executive Director (Finance) of IRFC.
• The loan execution took place at the Railway Board in the presence of Satish Kumar, Chairman & CEO of the Railway Board.