The World Bank has agreed to provide $3-billion, long-term loan to three companies - India Infrastructure Finance Company (IIFCL), Small Industries Development Bank of India (Sidbi) and Power Grid Corporation (PGCIL) - as the global financial crisis undermines private financing for the country's much-needed infrastructure sector.

Sources said IIFCL will get $1.2 billion for a period of 30 years at an interest rate of around the London Inter-Bank Offered Rate (Libor), sources said. Similarly, Sidbi, which has received a $100-million line of credit from the World Bank this year, is pitching for another $400 million during the financial year.

Full Story...

Posted by boyang at December 19, 2008 5:33 AM