PFC Sign 120 Billion JPY Loan Deal with JBIC for RE Projects in India

Current Context: On January 15, 2025, the Power Finance Corporation (PFC) signed a 120 billion Japanese yen (JPY) loan agreement with the Japan Bank for International Cooperation (JBIC).

• This loan, part of JBIC's Global action for Reconciling Economic growth and Environmental preservation (GREEN) initiative, aims to finance PFC's renewable energy projects in India.
• The funds will support India's transition to non-fossil-fuel-based energy sources.
• This deal marks the largest green financing agreement ever executed by JBIC with any company in India.

Question:

1 What is the total amount of the loan agreement signed between Power Finance Corporation (PFC) and the Japan Bank for International Cooperation (JBIC) on January 15, 2025?

• A) 120 billion Japanese yen
• B) 100 billion Japanese yen
• C) 150 billion Japanese yen
• D) 200 billion Japanese yen

Answer: A) The loan agreement signed between PFC and JBIC on January 16, 2025, was for 120 billion Japanese yen.