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Hyderabad, Nov. 29 IFC, an arm of the World Bank, has been appointed as the lead advisor to the Infrastructure Corporation of Andhra Pradesh (INCAP) as it implements several public-private partnership projects in the State.

The role of IFC would be to provide advisory services and support to INCAP in infrastructure development and in promoting further economic development in the state.

IFC will help the State Government develop and close successful public-private partnership projects in select sectors. The project is in line with IFC’s mandate to support development of public private partnership projects in India.

The Regional Director, IFC South Asia, Mr Paolo M. Martelli, in a statement said, “IFC’s strategy in South Asia and in India is focused towards promoting inclusive growth and supporting infrastructure development. Our advisory work in the area of public private partnerships will be an important contribution to infrastructure development in the region.”

These services would span road transport, airport and port sectors.

The Managing Director of Incap, Mr Sanjay Jaju, said, “INCAP is pleased to partner with IFC to utilise their global advisory and investment expertise in infrastructure, for the benefit of Andhra Pradesh.”

A memorandum of understanding was signed between INCAP and IFC in the presence of Mr.T. Subbarami Reddy, Minister for Mines, Geology and Coal, Government of India and Mr.M. Venkat Ramana Rao, Minister for Infrastructure and Investment Department, Government of Andhra Pradesh.

The mandate is to create an enabling environment for mutual co-operation in project development in Andhra Pradesh and mitigate deficiencies in procurement technology required for project development.

More Stories on : Infrastructure | Financial Institutions | Andhra Pradesh

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