NaBFID to Sanction Rs 3 Lakh Crore for Infra by 2026

New Delhi, Feb 29 (PTI) National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday.

Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked it to introduce a structured partial credit enhancement facility towards deepening bond markets, including for urban local bodies and municipalities.

To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution.

Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years.

"NaBFID will sanction over Rs 3 lakh crore by March 2026," the ministry said in a release.

It will continue its focus on infrastructure financing and contribute towards the goal of Viksit Bharat.

Sitharaman also advised NaBFID to create a data repository for the infrastructure sector, complementing the National Infrastructure Pipeline and PM-Gati Shakti to crowd in patient capital.

Sitharaman asked NaBFID to develop sector specialisation to a unique capability to evaluate and underwrite large and complex infrastructure projects, the release said.