Business Daily from THE HINDU group of publications
Tuesday, Jul 31, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 31, 2007 ePaper |
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Industry & Economy
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Infrastructure Money & Banking - Financial Institutions IFC’s annual investments here cross $1 b mark
India investment portfolio is IFC’s second largest after Russia.
Our Bureau New Delhi, July 30 IFC, the private sector lending arm of the World Bank, on Monday said during the 12 months up to June 30, 2007, private sector projects worth $3 billion were supported as a result of IFC’s assistance to the Indian corporate sector, with infrastructure sector investments getting a big fillip. “IFC’s annual investments in India this year surpassed the $1 billion mark for the first time since IFC’s founding in 1956. “IFC invested more in India during the 12 months ending June 30, 2007, than in any other country, making the India investment portfolio its second largest after Russia,” it said in a statement. Projects
IFC also doubled its portfolio in the infrastructure sector to $600 million during the period. Investments ranged from natural gas to wind power, and from port services to a fund for developing public-private projects in the infrastructure sector, it said. Ms Farida Khambata, IFC Vice-President for Asia and Latin America, said, “India’s priority is infrastructure, where the problem today is a shortage of bankable projects. “IFC is setting up an infrastructure advisory facility with donor support to develop bankable public-private partnerships, in close collaboration with Government agencies at the central and State levels. “This will help create model PPP arrangements in nnewer sub-sectors and increase access to infrastructure services across the South Asia region.”
More Stories on : Infrastructure | Financial Institutions | Overseas Borrowings
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