Home »  Money

IFC launches $2.5 bln rupee-denominated bonds for infrastructure projects in India

Wednesday, 20 August 2014 - 4:55pm IST | Place: Mumbai | Agency: dna webdesk

International Finance Corporation, the private sector arm of the World Bank, launched rupee-denominated bonds worth $2.5 billion to fund infrastructure investments in India. "Under the programme, IFC will use a combination of rupee-denominated bonds and swaps to raise local-currency financing of up to $2.5 billion, or 150 billion rupees, over the next five years," Reuters reported.

It would offer a safe investment opportunity for domestic funds and other investors, said IFC executive vice-president and chief executive officer Jin-Yong Cai, media reports suggested.

The bond sale would ensure to generate more interest in Indian economy and atrract long term investment funds in the economy.


Jump to comments

Recommended Content