IIFCL Races Ahead with Ambitious $1 Billion Mobilization Plan

India Infrastructure Finance Company Ltd (IIFCL) is set to raise up to $1 billion through the MIGA guarantee fund to bolster infrastructure development in India. Leveraging collaborations with global banks, IIFCL aims to achieve this without sovereign guarantee, reinforcing its financial resilience for long-term projects.

India Infrastructure Finance Company Ltd (IIFCL) is ambitiously planning to raise up to USD 1 billion via the MIGA guarantee fund during the first quarter, aiming to enhance infrastructure development across India.

The Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, backs IIFCL's efforts by offering guarantees against non-commercial risks, thereby facilitating foreign investment influx into developing regions.

Addressing stakeholders, IIFCL MD Rohit Rishi revealed that negotiations with leading global banks are advanced, and the state-owned entity could secure funds within this fiscal quarter. IIFCL's strategic financial maneuvers, such as raising USD 500 million from Japan, underscore its robust fiscal standing and commitment to supporting long-term infrastructure projects.

(With inputs from agencies.)