The Hindu Business Line : IDFC plans Rs 14,000-cr mop-up in domestic market

Lending expertise: (From left) Dr. Rajiv Lall, MD & CEO, IDFC; Mr. George Deikun, Director, USAID India; and Mr Vinayak Chatterjee, Chairman, Feedback Venture, at a press conference in the Capital on Wednesday. –

Our Bureau

New Delhi, Aug. 29

Infrastructure Development Finance Company Ltd (IDFC) plans to raise Rs 12,000-Rs 14,000 crore of debt from the domestic markets this fiscal to fund infrastructure projects in the country, according to its Chief Executive Officer and Managing Director, Dr Rajiv Lall.

The money would be utilised for funding infrastructure projects in sectors such as ports, roads, logistics and telecom, he told newspersons here. Dr Lall said that the borrowing plan depended on market conditions and that resources would be raised as and when needed.

The IDFC Chief Executive also said that the company would lend about Rs 9,000 crore this fiscal, which is 30 per cent more than the advances made last year. On the $5-billion infrastructure fund set up with Citigroup, IIFCL and Blackstone, he said that the first closure would happen by end-October.

Pact with USAID

The United States Agency for International Development (USAID) and the India Infrastructure Initiative (III) on Wednesday signed a formal agreement of cooperation for promoting development of new water and sanitation systems in cities across India through public private partnerships (PPP).

While Mr George Deikun, USAID Mission Director, signed the agreement on behalf of USAID, Dr Rajiv Lall, Managing Director and CEO of IDFC, and Mr Vinayak Chatterjee, Chairman of Feedback Ventures, signed it on behalf of the India Infrastructure Initiative, which is a trust.

USAID will provide technical assistance to the India Infrastructure Initiative, which was launched in 2006 as a partnership between IDFC and Feedback Ventures to promote PPPs across various States.

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