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NEW DELHI: The World Bank's private sector lending arm, IFC, has said it will invest $1 billion in Indian companies during its financial year beginning June 2009.

“IFC had invested over a billion in new commitments in India in financial years 2007 and 2008. The institution expects to make a similar commitment in the next fiscal,” International Finance Corporation (IFC) Director for Infrastructure (Asia and Africa) , Ms Anita George said.

IFC's focus, she said, would be on projects in the infrastructure sector, including power, roads and ports and clean technology schemes.

The focus on infrastructure sector projects, she said, would help the country in mitigating the impact of global financial meltdown.

Besides the regular operations, Ms George said the two IFC-supported funds will pick up equity worth $1.7 billion (Rs 8,500 crore) in infrastructure projects, a move that will help the economy arrest the impact of global financial meltdown.

Mobilising $1.7 billion, the IFC expects the fund to generate total investment of $5-8 billion over the next three to five years. - PTI

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