Foreign Loans to India
KfW to provide USD 169.5 million loan to REC
- German Development bank KfW will provide an ODA loan of USD 169.5 million(Rs 1275 Crore ) to Rural Electrification Corporation (REC) to finance Power Sector and Renewable Energy Projects.
- This loan is being provided under the Indo-German Bilateral Partnership.
- The ODA loan will be deployed in part-financing power generation projects that are based on innovative solar photovoltaic technology,
ODA : Overseas Development Assistance
It is the government aid/loan given by the developed countries to developing countries for its economic development and welfare . The aid or loans cannot be used for military purposes or for commercial purposes like export promotions . The loan is given at a very low interest rate. And has a very long repayment period..
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