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

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.