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IFC may invest in Indian infrastructure fund

IFC may invest in Indian infrastructure fund
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First Published: Sun, Aug 26 2007. 04 07 PM IST
Updated: Sun, Aug 26 2007. 04 07 PM IST
Mumbai: The International Finance Corp is likely to take a 10-12% stake in an infrastructure fund to be floated by India’s Infrastructure Development and Finance Co, the Financial Express said on Sunday, 26 August.
The private sector lending unit of the World Bank will invest around $100 million in India Infrastructure Fund, and other partners in the fund such as Citigroup and private equity firm Blackstone will commit $300 million, it said.
Talks are continuing on raising $1.2 billion from domestic and foreign investors, with the aim of securing a deal by the end of September with 10-15 investors, the paper said, quoting sources. The fund would invest in sectors such as energy and utilities, telecoms, water supply and waste collection among others, it said.
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First Published: Sun, Aug 26 2007. 04 07 PM IST