REC Limited signed a 200 million Euro loan agreement with the German bank KfW on Friday. This marks REC’s sixth line of credit under the Indo-German Development Cooperation and demonstrates the commitment to enhance the distribution infrastructure of DISCOMs in line with the Revamped Distribution Sector Scheme (RDSS) of the Government of India (GoI).
The signing event was graced by the presence of key dignitaries, including Wolf Muth, Country Director (India); Ms. Carolin Gassner, Director (South Asia); and Dr. Juergen Welschof, Head of the Division from KfW along with the officials from the German Embassy. T.S.C. Bosh, ED (BDM, I&L) along with Smt. Valli Natarajan, ED(SOP) and Saurabh Rastogi, CGM (BDM) attended the event on behalf of REC Ltd.
This occasion marks a significant step in REC’s ongoing commitment to reform the distribution sector in the country. REC is the nodal agency to implement the RDSS scheme.
