India: Credit Enhancement of Project Bonds

Nonsovereign Project | 43932-014 Status: Approved


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Project Name Credit Enhancement of Project Bonds
Project Number 43932-014
Country India
Location India
Approval Number 7360-03/7360-03
Type or Modality of Assistance
7360-03/7360-03 -1 US$ 0.00 Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance - Money and capital markets

Gender Equity and Mainstreaming
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Responsible ADB Officer Donald Lambert
Project Sponsor(s)
Objectives and Scope The facility will support credit enhancements of project bonds to address one of India's key development challenges, namely to meet the infrastructure investment target of about $1 trillion during the Twelfth Five-Year Plan for FY2012 FY2016. By providing credit enhancement, the facility will raise the credit rating of infrastructure project bonds to the required AA rating, thereby providing the critical missing step required to mobilize infrastructure financing from pension and insurance funds and promote development of the domestic corporate debt market.
Linkage to Country/Regional Strategy ADB's India country partnership strategy for 2009 2012 emphasizes infrastructure development and is based on four pillars: (i) inclusive and environmentally sustainable growth, (ii) catalyzing investment, (iii) increasing results orientation and knowledge solutions, and (iv) regional cooperation. The facility supports the first three pillars, given the linkage between growth and infrastructure development and the objective of catalyzing infrastructure funds from a broad array of financial intermediaries. The country partnership strategy supports the role of financial intermediaries in providing long-term financing for infrastructure, emphasizing the PPP modality.

Safeguard Categories

Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI

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 12 Sep 2011
Due Diligence 28 Sep 2011
Credit Committee Meeting 07 Aug 2012
Approval 20 Sep 2012
PDS Creation Date 23 Aug 2012
Last PDS Update 29 Sep 2014
Title Document Type Document Date
Credit Enhancement of Project Bonds: Project Data Sheet (हिन्दी) Translated PDS Aug 2012
Credit Enhancement of Project Bonds Reports and Recommendations of the President Aug 2012

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.

Evaluation Documents See also: Independent Evaluation

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