The Hindu Business Line : IFC to advice AP Infra Corp in PPP projects

Hyderabad, Sept. 11 IFC, a member of the World Bank Group, has been appointed as the lead advisor to help the Andhra Pradesh Urban Finance and Infrastructure Development Corporation Ltd implement public-private partnership projects for urban infrastructure development in the State.

This will help create bankable projects and involve the private sector in meeting the infrastructure needs of the State’s urban population, according to a press release.

IFC’s advice and support to the company will spur urban infrastructure development, as it will assist in the implementation of several pilot projects.

The memorandum of understanding signed by IFC and Andhra Pradesh Corporation builds on the existing relationship between the two organisations. IFC has been working with Andhra Pradesh to carry out specific mandates for projects throughout the State.

“IFC’s global experience will help Andhra Pradesh develop and close successful public-private partnership projects in select sectors to improve city and municipal infrastructure. IFC’s experience, particularly in infrastructure, came in handy to the Infrastructure Corporation of Andhra Pradesh, and we are certain that the success will also be replicated in urban infrastructure projects,” said Mr Praveen Prakash, Managing Director, Andhra Pradesh Urban Finance and Infrastructure Development Corporation Ltd.

More Stories on : Urban Development | Financial Institutions | Andhra Pradesh

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