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Article: INFRASTRUCTURE SPV IS FINALLY HERE.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- November 15, 2005
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INFRASTRUCTURE SPV IS FINALLY HERE
November 15 (PTI Economic Service): The much-awaited special purpose vehicle (SPV) for infrastructure development was cleared recently by the Union Cabinet. The SPV would be named India Infrastructure Finance Company Ltd (IIFCL) and the Government will provide guarantee upto Rs 10,000 crore to it in this fiscal to borrow long term funds from domestic and overseas markets to fund mega projects in the infrastructure sector.
IIFCL can also borrow funds from multilateral lending agencies like World Bank and ADB. The government guarantee limit for the SPV would be set at the beginning of each fiscal. IIFCL, which would be ...