NaBFID, UPICON to advance investment‑ready projects in India’s Uttar Pradesh

The partnership will provide debt-raising and credit enhancement services.

India's National Bank for Financing Infrastructure and Development (NaBFID) has partnered with UP Industrial Consultants Limited (UPICON) to provide advisory services for infrastructure projects in Uttar Pradesh.

The partnership will offer transaction advisory, financial modelling, debt-raising and credit enhancement services to improve project preparation and strengthen the financial viability of infrastructure projects across the state.

Monika Kalia, deputy managing director and CFO at NaBFID, said the partnership is intended to support the development of investment-ready infrastructure projects by combining advisory services with financing solutions to strengthen the state's infrastructure financing ecosystem.

Himanshu Gulliani, executive vice president and head of strategy and partnerships at NaBFID, said the collaboration aims to accelerate infrastructure development in Uttar Pradesh by helping create financially viable projects that can attract long-term capital.

UPICON Managing Director Pravin R. Singh said the partnership seeks to provide end-to-end professional support for structuring and mobilising sustainable financing solutions for infrastructure projects undertaken by the Uttar Pradesh state government and its agencies.

NaBFID, established in April 2021 as a development financial institution, provides long-term financing for infrastructure projects in India and is also working to develop the country's market for infrastructure-related bonds, loans and derivatives.