NTPC agrees to $482 million loan deal with Japanese banks

NTPC Limited has agreed to the terms of the Japan Bank for International Cooperation (JBIC) to secure a foreign currency loan of around $482 million. The Japanese government-owned bank has offered the funding under its Global action for Reconciling Economic growth and Environment preservation (GREEN) initiative. Under the agreement, JBIC will provide 60 per cent of the agreed amount, while the remaining will be funded by commercial banks. These include Sumitomo Mitsui Banking Corporation, Bank of Yokohama, San-In Godo Bank, Joyo Bank and Nanto Bank. NTPC will utilise the funds to install flue gas desulphurisation systems at its thermal power plants and renewable energy projects.