The executing agency for the Second India Infrastructure Project Financing Facility (IIPFF II), the India Infrastructure Finance Company Limited (IIFCL), requested ADB to approve the Tranche III (Periodic Financing Request [PFR]3) of IIPFF II for $240 million to finance 7 indicative new subprojects in addition to the disbursement balance left for 5 existing subprojects approved under Tranches I and II. The total cost of the 7 subprojects is estimated at Rs140.18 billion (or $2.92 billion), inclusive of taxes, duties, and interest and other charges on the loan during construction, against which IIFCL sanctioned Rs15.2 billion (or $316.27 million). The PFR3 is expected to catalyze 12 times of funding resources from the market.
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