New Delhi, May 25 -- State-owned Indian Railway Finance Corporation (IRFC) is planning to raise around USD 2 billion through external commercial borrowings (ECBs), primarily in Japanese yen, as part of its strategy to support business expansion and infrastructure financing during the current financial year.

The proposed fundraising forms part of IRFC's Rs 70,000 crore resource mobilisation programme approved by its board for FY27.

Speaking to PTI, IRFC Chairman and Managing Director Manoj Kumar Dubey said the company has already signed a loan agreement with a consortium of banks to raise a Japanese yen-denominated ECB equivalent to USD 1.1 billion.

"We have just signed a loan agreement with the consortium of banks for raising an Extern...