(a) whether Indian Railway Finance Corporation seeks loan from foreign financial institutions;
(b) if so, the total amount of loan taken from abroad by March, 2001; and
(c) the amount of interest paid by the Indian Railway Finance Corporation during 1998-99, 1999-2000 and 2000- 2001 alongwith the rate of interest thereon?
MINISTER OF STATE IN THE MINISTRY OF RAIWLAYS AND PARLIAMENTARY AFFAIRS (SHRI O. RAJAGOPAL)
a) & (b): Yes, Sir. The Indian Railway Finance
Corporation Ltd. (IRFC) has raised an export credit of
US Dollar 42.4 million from Export Development
Corporation (EDC), Canada, a syndicated loan of
Japanese Yen 8.85 billion from a consortium of foreign
financial institutions and an export credit of Euro
19.5 million from Kreditantstalt fur Wiederaufbau
(KfW), Germany, till end of March, 2001.
c) The amount of interest paid by IRFC and rates of
interest are as under:-
Year Amount of Rate of interest per interest paid annum (Rs. in crore)
1998-99 1.18 3.08% (Yen Loan) 5.3% (EDC Credit)
1999- 15.21 3.08% (Yen Loan) 2000 5.3% to 6.43% (EDC Credit)
2000-01 19.75 3.08% (Yen Loan) 5.55% to 7.1% (EDC Credit) 5.43% to 5.5% (KfW Credit)