fbpx 38926-014: INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LTD. | Asian Development Bank

India: INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LTD.

Nonsovereign (Private) Project | 38926-014 Status: Closed

The Infrastructure Development Finance Company borrowed $50 million in US dollars from ADB. Loan proceeds will be on-lent in US dollars to eligible infrastructure subprojects in India, which have US dollar based revenues.

Project Details

Project Officer
Gunawardhena, Manohari Private Sector Operations Department Request for information
Country
  • India
Sector
  • Finance
 
Project Name INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LTD.
Project Number 38926-014
Borrower/Company IDFC Bank Limited
Country India
Location
Type or Modality of Assistance
2169 Loan Ordinary capital resources USD 50.00 million Closed
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Gunawardhena, Manohari
Project Sponsor(s)
Description The Infrastructure Development Finance Company borrowed $50 million in US dollars from ADB. Loan proceeds will be on-lent in US dollars to eligible infrastructure subprojects in India, which have US dollar based revenues.
Objectives and Scope The objectives of the loan include (i) helping India meet infrastructure requirements that are essential for its sustained economic growth, (ii) supporting the Government's strategy of encouraging private sector participation in infrastructure development, given the limited availability of public sector financing; (iii) providing continued support to IDFC, which is a key infrastructure finance institution in India; (iv) improving IDFC's environment and social safeguard policies, (v) enabling IDFC to offer US dollar loans at attractive tenors to its clients, thereby improving sub-project economics; and (vi) demonstrating the viability of long-term off-shore funding for IDFC and eventually catalyze other lenders, hence contributing to private infrastructure financing in India.
Linkage to Country/Regional Strategy
Safeguard Categories
Environment FI
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 23 Sep 2004
Credit Committee Meeting 02 Mar 2005
Approval 19 Apr 2005
Last PDS Update 28 May 2018

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.

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

Title Document Type Document Date
India: Equity Investment in and Loan to Infrastructure Development Finance Company Validations of Project Completion Reports Sep 2014

Related Publications

None currently available.


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