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'IIFCL to get $1.2 billion from World Bank next month'
State-run infrastructure financing company IIFCL on Friday said the World Bank will disburse $1.2 billion loan next month for its various infrastructure projects.
State-run infrastructure financing company IIFCL on Friday said the World Bank will disburse $1.2 billion loan next month for its various infrastructure projects.
"$1.2 billion, we have been told on Thursday, that they (World Bank) are doing (disbursing it) in April meeting," India Infrastructure Finance Company Ltd (IIFCL) Chairman SS Kohli told reporters on the sidelines of a FICCI summit in New Delhi, when asked about assistance from the World Bank.
IIFCL has signed an agreement with the Asian Development Bank for a $200 million loan, he said.
Till March 17, the company had raised Rs 2,600 crore from the second tranche of the Rs 10,000 crore tax-free bonds programme.
On further issue of bonds, he said, "After expiry on March 31, we can talk about it. The (earlier) target was March 31 that has been done. Next guidelines have not been received."
From the first tranche, IIFCL had raised Rs 7,370 crore of tax-free bonds during the third week of January. The bond, which was guaranteed by the government, will give a 6.85 per cent tax-free return to investors and have a maturity period of five years.
