Global financial giants have joined hands with leading Indian counterparts to provide long-term finance for the infrastructure development in India.

Leading private equity firm Blackstone, financial powerhouse Citigroupand India's Infrastructure Development Finance Company (IDFC) and the Indian Infrastructure Finance Company (IIFC) said on Thursday they have launched an initiative to set up a $5 billion fund in a combination of equity and debt, with maturities exceeding over 10 years.

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Posted by rjorr at February 15, 2007 8:02 PM