In a significant development, Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) have forged an alliance aimed at providing substantial financial backing to sustainable infrastructure ventures.

The agreement, formalized on Monday, entails a commitment to extend long-term financial aid to feasible infrastructure projects. Through this collaboration, both entities will pool resources to support such projects, utilizing consortium or multiple lending frameworks.

This collaboration, outlined in a Memorandum of Understanding (MoU), was sealed in a ceremony attended by Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL. The agreement marks a significant step towards facilitating funding for the nation’s infrastructure projects, with both parties expressing their unwavering commitment to the endeavor.