IFC may invest $400 Mn in Power Grid Corporation of India Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.
Power Grid has undertake project to enhance electricity transmission infrastructure in India.
The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.
IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds.
International Financial Corp (IFC), the private lending arm of the World Bank, has revealed that it intends to invest in two leading Bangladeshi companies. The aim is to give impetus to the government’s efforts to upgrade Bangladesh’s infrastructure and expand its exports.