The Hindu Business Line : IDFC to borrow Rs 12,000-14,000 cr this fiscal

NEW DELHI: Infrastructure Development Finance Corporation (IDFC) will raise Rs 12,000-14,000 crore debt in the current fiscal from the domestic debt market to fund infrastructure projects in the country.

"The money will be used for funding infrastructure projects in sectors like ports, roads, logistics and telecom,'' IDFC CEO Rajiv Lall told reporters here. The borrowing plan would depend on market conditions, he said, adding that the company would raise resources as and when there is a need.

On infrastructure financing, Mr Lall said the excitement in the infrastructure sector is likely to continue in the coming years. The company expects balance sheet size to grow by 30-35 per cent during the fiscal. Advances are likely to see a growth of 30 per cent in the current fiscal, he said, adding that the loan disbursal target is Rs 6,000-7,000 crore. The company recently raised $500 million through equity.

On the five-billion-dollar infrastructure fund it has set up with Citigroup, IIFCL and Blackstone, Mr Lall said the first closure of the fund would happen by October end. Meanwhile, IDFC and Feedback Ventures today signed a MoU with the United States Ag ency for International Development (USAID) for promotion and development of new water and sanitation projects in urban areas. - PTI

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