IFC plans $500 million investment in India
By Our Banking Bureau | 22 Aug 2006
Mumbai: International Finance Corporation, the private sector window of the World Bank, proposes to invest $500 million in India this fiscal, a 25 per cent rise from its exposure of $400 million last fiscal (July 2005 to June 2006). "The exposure of IFC in the South Asia last fiscal stood at 506 million dollars, of which over 400 million dollars was invested in India alone", IFC South Asia Portfolio Manager Colin J Warren said he said.
The key sectors which IFC is investing include pharmaceuticals, infrastructure, auto components, IT and Biotechnology. IFC sees great potential for biotech and pharmaceutical sectors in India''s economy.
IFC has invested in APIDC Biology Fund, which in turn will make equity and equity-related investments in emerging life science businesses. IFC has also invested in Bharat Biotec India Ltd, a company that develops and manufactures vaccines and drugs.
Mr Warren said, the World Bank arm is very positive about the Indian ecomony.
IFC finances projects in the developing countries through loans, equity finance and quasi-equity. It also offers financial risk mamagement products and intermediary finances.