IRFC Executes Landmark Refinancing of World Bank Loan for Dedicated Freight Corridor Project

Indian Railway Finance Corporation Limited (IRFC) executed a Rupee Term Loan Agreement of ₹9,821 crore with Dedicated Freight Corridor Corporation of India Limited (DFCCIL) for refinancing DFCCIL’s existing foreign currency debt availed from the World Bank for the Eastern Dedicated Freight Corridor (EDFC) project on 23rd December 2025. The agreement was signed between Shri Rahul Kapoor, Director (Finance), DFCCIL and Ms. Deepa Kotnis, Executive Director (Finance), IRFC. IRFC, a Navratna CPSE, is expanding its role as a diversified infrastructure financier within the railway ecosystem. DFCCIL plays a pivotal role in the development, operation and maintenance of dedicated freight corridors. This transaction marks a significant milestone in India’s infrastructure financing landscape, underscoring the growing depth, maturity and capability of Indian financial institutions to support large-scale, long-gestation critical infrastructure projects through domestic funding solutions. The refinancing covers existing IBRD loans, reducing exposure to exchange rate volatility and enhancing predictability in debt servicing for DFCCIL.