The proposed TA supports a critical pillar of the infrastructure financing strategy through bond market financing in India. Given exposure limits by banks to infrastructure financing, the proposed (BGFI) will provide an institutional mechanism to credit enhance debt instruments issued by infrastructure and non-infrastructure corporations and special purpose vehicles (SPVs). The credit enhancement will occur from a standalone rating of around BBB to AA thereby enabling contractual savings institutions to invest in the instruments in line with regulations. Bond proceeds may be used to pre-pay existing bank loans thereby freeing up headroom from banks and allowing them to lend to new Greenfield projects and also assist them in managing the asset liability mismatch given the long term nature of infrastructure investment. This in turn would help improve the resilience of the banking sector.
Latest Project Documents
|Preparing the Bond Guarantee Fund for India: Conference Report||Jul 2015|
|Preparing the Bond Guarantee Fund for India: Consultant's Final Report||Apr 2015|
|Preparing the Bond Guarantee Fund for India: Interim Report||Nov 2014|
Consulting NoticesSee also: CMS
Procurement NoticesSee also: Operational Procurement
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.