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NTPC signs pact with Japanese agency for USD 200 million loan

Published on March 28, 2024
Current Context: The state-owned power giant, NTPC, has indeed signed a pact with a Japanese agency for sourcing foreign currency loans of USD 200 million. This amount is equivalent to JPY 30 billion or around Rs 1,650 crore.
NTPC signs pact with Japanese agency for USD 200 million loan
  • The Japan Bank for International Cooperation (JBIC), a government policy-based financial institution, will provide 60% of the facility amount.
  • The balance amount will be provided by other commercial banks under JBIC guarantee.
  • The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL).
  • NTPC shall utilize the loan proceeds for funding part of its capex requirements for Flue Gas Desulphurization (FGD) which substantially reduces the SOx emission in the flue gases of thermal power stations and is a positive step towards environmental sustainability.
  • The loan proceeds shall also be utilized by NREL for funding its capex for renewable energy projects which would facilitate its mission for providing reliable, affordable, and sustainable energy.
  • This is the second loan for NTPC under JBIC’s GREEN operations in India.

Question:

Q.1 Who is providing the foreign currency loans to NTPC?
a. The World Bank
b. The International Monetary Fund (IMF)
c. The Japan Bank for International Cooperation (JBIC)
d. The Asian Development Bank (ADB)
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