Monday, Nov 24, 2014

‘Focus on IIFCL refinance to pump in Rs 75,000 crore’

Written by Press Trust Of India | New Delhi | Posted: January 6, 2009 1:09 am

The government will focus on utilisation of refinance facility extended to IIFCL to provide Rs 75,000 crore for the infrastructure sector projects with a view to arrest economic slowdown,Planning Commission deputy chairman Montek Singh Ahluwalia said today. “I am particularly looking at implementing the IIFCL refinancing. We should implement that and announce the details as quickly as possible,” he told PTI after meeting India Infrastructure Finance Company (IIFCL) chairman S S Kohli and finance ministry officials. IIFCL is expected to leverage Rs 30,000 crore it has been allowed to raise from tax-free bonds and provide about Rs 75,000 crore to projects in the infrastructure sector. “To fund additional projects of about Rs 75,000 crore at competitive rates over the next 18 months,IIFCL is being enabled to access in tranches an additional Rs 30,000 crore by way of tax-free bonds,” he had said.

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