REC signs 200 million Euro loan agreement, This is REC’s sixth line of credit under Indo-German Development Cooperation.
MOUs and Agreement
REC Ltd signed a 200 million Euro loan agreement with the German bank, KfW in New Delhi on 8th December 2023. This is REC’s sixth line of credit under Indo-German Development Cooperation, which will be utilised to re-finance investments in the distribution infrastructure of DISCOMs, in alignment with GoI’s Revamped Distribution Sector Scheme (RDSS).
This occasion marks yet another significant step in REC's commitment to reform the power distribution sector in the country.
Director (South Asia), Mr Wolf Muth, Country Director (India) and Dr. Juergen Welschof, Head of the Division, represented KfW along with officials from the German Embassy.
About REC (Rural Electrification Corporation Limited):
Former Name: REC LIMITED (Formerly Rural Electrification Corporation Limited)
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