Jawaharlal Nehru Port attracts $70-M from IFC via ECB loan

The International Finance Corporation (IFC) is to lend USD 70-M to the state-run Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai. The transaction is structured as a 10-year, USD-linked external commercial borrowing (ECB) loan and does not involve a sovereign guarantee. This deal marks the first instance of blue financing in the Indian maritime sector and represents the first investment by a development finance institution in an Indian state-owned major port.The funding will be used to install shore power supply (SPS) infrastructure across terminals at the Jawaharlal Nehru Port. This technology enables berthed ships to switch off their diesel engines and utilize land-based electricity.The Jawaharlal Nehru Port Authority (JNPA) operates as India's premier container-handling port, managing about 50% of the total containerised cargo volume across all major Indian ports.