Press Trust Of India / New Delhi

World Bank's private sector lending arm, International Finance Corporation (IFC), has said two funds supported by it are ready to pick up equity worth $1.7 billion (about Rs 8,500 crore) in infrastructure projects in India, a move that will help the country's economy arrest the impact of the global financial meltdown.

"We have mobilised $1.7 billion. The funds are expected to generate a total investment of $5-8 billion over the next three-five years," said Anita George, IFC's director for infrastructure (Asia and Africa).

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Posted by boyang at April 20, 2009 5:56 AM