- April 2012: Vol. 5, Number 4

To read this full article you need to be subscribed to Institutional Investing in Infrastructure

India Infrastructure Debt Fund Targets $2 Billion


ICICI Bank Ltd., Bank of Baroda, Citigroup Inc. and Life Insurance Corp. of India have signed an agreement to create a $2 billion infrastructure debt fund to support lending to roads, ports and other infrastructure projects, according to a Dow Jones report. This is the first debt fund in India that will invest in such public-private partnership projects, according to the fund sponsors.

The group will form a non-banking finance company to manage the fund, with an equity capital base of Rs 3 billion ($60.6 million), according to ICICI Bank CEO Chanda Kochhar. The group will then sell bonds to raise $2 billion, says M.D. Mallya, chairman and managing director of Bank of Baroda.

India finance minister Pranab Mukherjee says that the withholding tax on interest payments

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy