IIFCL to get $1.2 bn from World Bank in April: Kohli

IIFCL to get $1.2 bn from World Bank in April: Kohli
PTI
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First Published: Fri, Mar 20 2009. 04 40 PM IST
Updated: Fri, Mar 20 2009. 04 40 PM IST
New Delhi: State-run infrastructure financing company IIFCL on Friday said the World Bank will disburse $1.2 billion loan next month for its various infrastructure projects.
“$1.2 billion, we have been told yesterday, that they (World Bank) are doing (disbursing it) in April meeting,” India Infrastructure Finance Company Ltd (IIFCL) chairman SS Kohli told reporters on the sidelines of a FICCI summit here, when asked about assistance from the World Bank.
IIFCL has signed an agreement with the Asian Development Bank for a $200 million loan, he said.
Till 17 March, the company had raised Rs2,600 crore from the second tranche of the Rs10,000 crore tax-free bonds programme.
On further issue of bonds, he said, “After expiry on 31 March, we can talk about it. The (earlier) target was 31 March that has been done. Next guidelines have not been received.”
From the first tranche, IIFCL had raised Rs7,370 crore of tax-free bonds during the third week of January. The bond, which was guaranteed by the government, will give a 6.85% tax-free return to investors and have a maturity period of five years.
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First Published: Fri, Mar 20 2009. 04 40 PM IST
More Topics: IIFCL | World Banks | Funds | Loan | SS Kohli |