"nabfid"

Andhra Pradesh has extended a government guarantee and a letter of comfort to CRDA to help secure a Rs 7,500 crore NaBFID loan for Amaravati’s development. The guarantee covers principal and interest, taking effect only if CRDA defaults

Government expects the fund to raise up to Rs 3 lakh crore in the next few years

The union cabinet earlier this week had approved a budget proposal of setting up a Development Finance Institution (DFI), which will have tax benefits to enable fund raising from investors.

The government is considering a proposal to subsume IIFCL into the proposed DFI.