GMR Infra inks MoU with Japan Bank for International Cooperation

During the Prime Minister Narendra Modi`s recent visit to Japan, GMR Infrastructure signed a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in Infrastructure projects of GMR Group.
The objective of this MOU is to provide low cost long duration financing for infrastructure development projects that involve Japanese companies in development of industrial parks, power, energy, ports, airports, highways and railway projects.
“Through a framework of this MOU between JBIC and GMR, JBIC intends to promote opportunities for Japanese companies to participate in infrastructure projects. This will serve to improve infrastructure in India and support development of the necessary foundation for Japanese companies’ business activities in India. Over the next 12 months, GMR and JBIC will work on identifying projects to attract Japanese investments,” GMR said issuing a statement.
Speaking on the occasion BVN Rao, Business Chairman- Urban ‎Infrastructure & Highways who signed the MoU on behalf of GMR Infrastructure in Tokyo said, "It is a landmark event and the first that any bilateral agency has made with a Company in the private sector. It is a manifestation of the belief that an international agency like JBIC has in the delivery capabilities of the GMR Group”

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