Latest News | NaBFID to Sanction Rs 3 Lakh Crore by March 2026 to Support Infra Development
Get latest articles and stories on Latest News at LatestLY. National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday.
New Delhi, Feb 29 (PTI) National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday.
Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked it to introduce a structured partial credit enhancement facility towards deepening bond markets, including for urban local bodies and municipalities.
To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution.
Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years.
"NaBFID will sanction over Rs 3 lakh crore by March 2026," the ministry said in a release.
It will continue its focus on infrastructure financing and contribute towards the goal of Viksit Bharat.
Sitharaman also advised NaBFID to create a data repository for the infrastructure sector, complementing the National Infrastructure Pipeline and PM-Gati Shakti to crowd in patient capital.
Sitharaman asked NaBFID to develop sector specialisation to a unique capability to evaluate and underwrite large and complex infrastructure projects, the release said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)