DFID-IDFC loan programme to support infrastructure projects in low income states of India
Updated: Mar 19, 2014 12:39:27pm
New Delhi, March 19 (KNN) UK's Department for International Development (DFID) and India's leading integrated infrastructure finance player IDFC ltd, announced the operationalization of DFID-IDFC loan programme to support infrastructure projects in the low income states of India which will leverage 120 million pounds of capital and impact as many as positively impact 280,000 women and men through this partnership. The programme was launched in October 2013.
“Mark Lowcock, Permanent Secretary at UK’s Department for International Development, and Rajiv Lall, Executive Chairman, IDFC ltd, announced the operationalization of DFID-IDFC loan programme that will support infrastructure projects in the low income states of India,” according to their press release.
The announcement was made on the side-lines of a panel discussion that was organised to deliberate the role of development financial institutions in promoting India’s infrastructure.
The panel comprised of Onno Ruhl, Country Director, World Bank, Rajesh Khullar, Joint Secretary, Department of Economic Affairs and other experts. Senior government officials, key players from the private sector, academicians and civil society representatives also attended the event.
Speaking at the event Mark Lowcock said, “As DFID makes a transition from financial aid to returnable capital, partnerships like the one with IDFC will play a key role in delivering development and growth in the poorest states of India. We hope to leverage 120 million pounds of capital and positively impact 280,000 women and men through this partnership.”
Executive Chairman IDFC, Rajiv Lall said: “Joining forces with DFID is a win-win for both organizations, as we seek to best navigate today’s highly complex investment climate. We are sure that this unique partnership will encourage other multilateral/bilateral agencies as well as private sector players to explore investment opportunities in underdeveloped regions. We are sure that such arrangements will not only help provide growth opportunities for people in the underdeveloped regions of the country, but will also ensure sustainable development.”
Head of DFID in India, Sam Sharpe while speaking about DFID’s private sector said, “The IDFC Loan programme is a critical part of our new private sector portfolio which will facilitate private investment to benefit the poor and under privileged in India’s eight low income states - as consumers, producers and workers. Even though these states are home to over half of India’s population, they attract only one-fourth of domestic and less than 3 per cent of foreign direct investments.”
IDFC was established in 1997 as a private sector enterprise by a consortium of public and private investors. Its expertise in the infrastructure sector and strong relationships with government and infrastructure sponsors provides it with a platform for facilitating private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.
DFID has been actively working with the Government of India to help the country achieve its own poverty reduction priorities and the Millennium Development Goals. (KNN/SD)
“Mark Lowcock, Permanent Secretary at UK’s Department for International Development, and Rajiv Lall, Executive Chairman, IDFC ltd, announced the operationalization of DFID-IDFC loan programme that will support infrastructure projects in the low income states of India,” according to their press release.
The announcement was made on the side-lines of a panel discussion that was organised to deliberate the role of development financial institutions in promoting India’s infrastructure.
The panel comprised of Onno Ruhl, Country Director, World Bank, Rajesh Khullar, Joint Secretary, Department of Economic Affairs and other experts. Senior government officials, key players from the private sector, academicians and civil society representatives also attended the event.
Speaking at the event Mark Lowcock said, “As DFID makes a transition from financial aid to returnable capital, partnerships like the one with IDFC will play a key role in delivering development and growth in the poorest states of India. We hope to leverage 120 million pounds of capital and positively impact 280,000 women and men through this partnership.”
Executive Chairman IDFC, Rajiv Lall said: “Joining forces with DFID is a win-win for both organizations, as we seek to best navigate today’s highly complex investment climate. We are sure that this unique partnership will encourage other multilateral/bilateral agencies as well as private sector players to explore investment opportunities in underdeveloped regions. We are sure that such arrangements will not only help provide growth opportunities for people in the underdeveloped regions of the country, but will also ensure sustainable development.”
Head of DFID in India, Sam Sharpe while speaking about DFID’s private sector said, “The IDFC Loan programme is a critical part of our new private sector portfolio which will facilitate private investment to benefit the poor and under privileged in India’s eight low income states - as consumers, producers and workers. Even though these states are home to over half of India’s population, they attract only one-fourth of domestic and less than 3 per cent of foreign direct investments.”
IDFC was established in 1997 as a private sector enterprise by a consortium of public and private investors. Its expertise in the infrastructure sector and strong relationships with government and infrastructure sponsors provides it with a platform for facilitating private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.
DFID has been actively working with the Government of India to help the country achieve its own poverty reduction priorities and the Millennium Development Goals. (KNN/SD)
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