India's Nabfid approves loans for data centers to boost AI
Business
India's infrastructure bank, Nabfid, just approved over ₹30 billion ($313 million) each for at least four data centers, part of a bigger push to power up the country's AI capabilities.
The bank says about ₹1 trillion will be needed through March 2031 to keep India's data centers going strong.
Nabfid eyes nearly $1B offshore
These loans come with a moratorium of up to five years before repayments start and have already caught the eye of major cloud service providers, thanks to the high earning potential of data centers.
Nabfid is also looking abroad for funding, raising nearly $1 billion in offshore loans and planning a 10-year US dollar bond soon.