India's state-owned National Bank for Financing Infrastructure & Development is planning its largest-ever fundraising effort for the January-March quarter to support the country's ambitious growth strategy.

According to persons familiar with the situation, the lender, which specializes in funding infrastructure projects, intends to raise up to Rs 400 billion ($4.7 billion) from the local debt market during the quarter through a combination of bonds and loans. According to persons who asked not to be named, NaBFID has already secured approval from government-owned banks for a portion of the borrowing, and the proposed loan facilities will primarily be for longer-term tenors of 10 to 20 years.

According to data published by Bloomberg, NaBFID, which was established in 2021 by an act of Parliament, sold over 89 billion rupees worth of bonds in 2024.

In order to support growth in one of the main economies with the quickest rates of expansion in the world, Prime Minister Narendra Modi's administration has made improving India's infrastructure a top priority. According to a December analysis by Knight Frank, India's economy would grow to $7 trillion by 2030 with an infrastructure investment of $2.2 trillion.

According to the folks, NaBFID's funding plans may alter based on the state of the market.