IFC to invest $500 mn in infrastructure projects
International Finance Corporation (IFC) is proposing to increase its exposure to infrastructure projects in India to 500 million dollars in the current year (July-June) from 300 million dollars in the previous one.
By PTI |
NEW DELHI: The private sector lending arm of the World Bank, International Finance Corporation (IFC) is proposing to increase its exposure to infrastructure projects in India to 500 million dollars in the current year (July-June) from 300 million dollars in the previous one.
"We expect to provide an assistance of one billion dollars in the current year, out of which 500 million will be for the projects in the infrastructure sector," Manager, South Asia department of IFC Neil Gregory said.
During 2006-07, he said, IFC invested about one billion dollars through a mix of debt and equity in the private sector Indian companies and would like to stabilise its annual exposure around that amount.
The focus of the IFC, he added, would be on equity investment in the days ahead with a view to reducing debt exposures. Presently, IFC's portfolio comprises 25 per cent equity and 75 per cent debt.
Among the larger projects in the infrastructure sector, he said, the Corporation would fund a 4,000 MW ultra mega power project being developed by Tata Power at Mundra, Gujarat State Petronet and MSPL Ltd.
In addition to the infrastructure sector, Gregory said, IFC would be looking at investments in projects in the social sector, manufacturing sector and private sector banks.
The IFC has so far participated in 222 projects in the country with a total cumulative commitment of 5.54 billion dollars as on June 30.
"We expect to provide an assistance of one billion dollars in the current year, out of which 500 million will be for the projects in the infrastructure sector," Manager, South Asia department of IFC Neil Gregory said.
During 2006-07, he said, IFC invested about one billion dollars through a mix of debt and equity in the private sector Indian companies and would like to stabilise its annual exposure around that amount.
The focus of the IFC, he added, would be on equity investment in the days ahead with a view to reducing debt exposures. Presently, IFC's portfolio comprises 25 per cent equity and 75 per cent debt.
Among the larger projects in the infrastructure sector, he said, the Corporation would fund a 4,000 MW ultra mega power project being developed by Tata Power at Mundra, Gujarat State Petronet and MSPL Ltd.
In addition to the infrastructure sector, Gregory said, IFC would be looking at investments in projects in the social sector, manufacturing sector and private sector banks.
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The IFC has so far participated in 222 projects in the country with a total cumulative commitment of 5.54 billion dollars as on June 30.
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