IFC, India look to develop “robust pipeline” of PPPs

Credit: IFC

The Indian National Bank for Financing Infrastructure and Development (NaBFID) and the International Finance Corporation (IFC) have signed an agreement to bolster PPP project preparation.

Under the plans, the bodies will work to “develop a robust pipeline of investment-ready PPP projects in infrastructure across India”.

Initially the agreement is looking to mobilise around $2bn in private investment into renewable energy, energy storage, urban infrastructure, and other government priority sectors over the next few years.

"The government has taken several measures to facilitate the development of PPP projects, including project implementation support and viability gap funding to project implementing agencies, among others,” said Vivek Joshi, secretary of financial services in the Government of India.

“We welcome all stakeholder support to bolster India's economy, which requires a strong growth in the infrastructure sector."