India's state-owned IIFCL launches $1.8 billion infrastructure funding program
Business
India's state-owned IIFCL just launched a $1.8 billion funding program to help build infrastructure projects.
They've already mobilized the first $200 million through international markets, and the money will go toward infrastructure financing that needs long-term support to get off the ground.
IIFCL plans $1bn World Bank guarantee
IIFCL plans to raise $1 billion of this under a World Bank-backed guarantee, which helps attract international investors by reducing risk.
Managing Director Rohit Rishi says they're committed to hitting their fundraising target on time, having already deployed over $3.5 billion toward infrastructure financing.
This move is all about keeping up with the country's growing need for better infrastructure.