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India hydropower provider NHPC secures $130m loan from Japan banks

MUMBAI -- The Japan Bank for International Cooperation and other lenders agreed Thursday to provide up to 20 billion yen ($130 million) in financing to Indian state-owned hydropower company NHPC as it broadens its renewable energy portfolio.

The syndicated loan is being co-financed by MUFG Bank and Bank of Yokohama. State-backed JBIC will contribute 12 billion yen of the total.