Government is setting up Higher Education Financing Agency, HEFA, to provide funds for creating infrastructure and promoting research facilities in the Centrally-aided institutions of higher learning. The agency will leverage funds from the market. <br/><br/>In a written reply in the Lok Sabha today, Minister of State for Human Resource Development, Dr. Mahendra Nath Pandey said, the Center will provide equity of one thousand crore rupees for establishing HEFA. <br/><br/> He said, the agency will mobilize funds under Corporate Social Responsibility and function as a non-banking financing company. <br/><br/>Dr Pandey also informed that the interest on loans provided by HEFA to institutions will be met by the government. The move will help provide quality education to students without putting burden on them.