By Gireesh Chandra Prasad
The Economic Times
22 October 2007

NEW DELHI: Public sector India Infrastructure Finance Company Limited (IIFC) is set to raise close to $2 billion from foreign banks and multilateral financing agencies to fund public-private partnership projects in infrastructure.

The company is in talks with Germany's KfW Bankengruppe, Japan Bank for International Co-operation (JBIC), Asian Development Bank and the World Bank for raising funds. JBIC is likely to provide loans of $600 million, KfW about e280 million, and ADB and the World Bank are expected to extend about $500 million each. Funds from multilateral financing agencies are not classified as external commercial borrowings. Sources said the funds will be provided to projects at very competitive interest rates.

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Posted by dcjaya at October 22, 2007 2:54 AM