NaBFID to hold talks, submit infrastructure financing report within 15 days

The National Bank for Financing Infrastructure and Development (NaBFID) will hold consultations with other stakeholders, including banks, and submit a report to the government on furthering financing in the infrastructure sector.

In a statement on Thursday, the finance ministry said that financial services secretary M Nagaraju held a meeting to discuss issues related to financing in the infrastructure sector and that NaBFID will submit its report within 15 days.

“Some of the key issues discussed were gaps in the availability of financing, barriers to the issue of municipal bonds, enhancing capacity building & training and better availability of data on defaults and recoveries,” the ministry said, adding that various measures and recommendations were put forward on issues related to financing in the infrastructure sector. The meeting was attended by senior management of major public sector banks, private sector banks, development financial institutions and non-banking financial company-infrastructure finance companies. “The government has already asked NaBFID to explore the pool finance structures for municipal finances that could aid raising resources for urban infrastructure,” said an executive, who did not wish to be identified.