IFC to advise Maharashtra on infrastructure development
IFC, a member of the World Bank group, will advise Maharashtra Urban Infrastructure Development Company (MUIDCL) on developing public-private partnership projects in various infrastructure sectors to boost economic growth.
By TNN |
MUMBAI: IFC, a member of the World Bank group, will advise Maharashtra Urban Infrastructure Development Company (MUIDCL) on developing public-private partnership projects in various infrastructure sectors to boost economic growth.
It will help define a strategy and recommend organisational, governance and capital structures and models.
As a potential nodal state level entity for public-private partnership projects development in Maharashtra, the MUIDCL would invite strategic stakeholders to provide early stage equity. For this purpose, IFC will assist the company in preparing business and financial plans and identifying capacity building requirements.
With a net commitment of about $1 billion in single state projects, Maharashtra has one of the largest World Bank programs. All these projects focus on development of infrastructure in the state. In FY07, IFC committed $8.2 billion and mobilised an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries.
���There are two key areas we need assistance on priority: an efficient transportation system and improved water supply. These are critical to boosting the state���s growth and economic development,��� MUIDCL MD Sanjay Ubale said.
���Successful examples world-wide indicate that public-private partnerships are useful in opening up markets and for mobilising public and private sources,��� said World Bank group executive director and India���s representative on IFC���s board Dhanendra Kumar.
It will help define a strategy and recommend organisational, governance and capital structures and models.
As a potential nodal state level entity for public-private partnership projects development in Maharashtra, the MUIDCL would invite strategic stakeholders to provide early stage equity. For this purpose, IFC will assist the company in preparing business and financial plans and identifying capacity building requirements.
With a net commitment of about $1 billion in single state projects, Maharashtra has one of the largest World Bank programs. All these projects focus on development of infrastructure in the state. In FY07, IFC committed $8.2 billion and mobilised an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries.
���There are two key areas we need assistance on priority: an efficient transportation system and improved water supply. These are critical to boosting the state���s growth and economic development,��� MUIDCL MD Sanjay Ubale said.
���Successful examples world-wide indicate that public-private partnerships are useful in opening up markets and for mobilising public and private sources,��� said World Bank group executive director and India���s representative on IFC���s board Dhanendra Kumar.
ADVERTISEMENT
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
