Finance body planned to fund education projects

The government on proposes to set up a National Education Finance Corporation (NEFC) to finance entities interested in setting up educational institutions on easier terms and conditions. Replying to questions in the Rajya Sabha, human resources development minister Kapil Sibal said NEFC will provide loans for infrastructure development and expansion of education institutions as well as for refinance facility for student loans. We are talking to the planning commission for it as it is just a proposal as of now. If NEFC is established, private, aided and government institutions will have access to it for finance on the pattern of soft loans or at priority sector lending rate, that are not available to the sector at present, Sibal said.