»
India hopes that more money will bridge the infrastructure gap but many believe that may not be enough
India hopes that more money will bridge the infrastructure gap but many believe that may not be enough
Prabhjote GillMar 17, 2021, 15:51 IST
Workers in action at the Avinashi road flyover construction project in Coimbatore, Tamil NaduBCCL
India is on the threshold of setting up a new national bank that will raise money to fund long-term infrastructure projects, which typically have high risk and low payout.
The bank plans to overcome the issues of funding projects by allowing pension funds, insurance funds, sovereign funds and foreign investors to provide capital.
»
India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years
India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years
Prabhjote GillMar 16, 2021, 16:39 IST
India s Finance Minister Nirmala SitharamanBCCL
The Indian government has given its stamp of approval to set up a new national bank that will fund the country’s long term infrastructure and development projects.
According to
Nirmala Sitharaman, India’s finance minister, the government is hoping that the
Development Fund Institution (DFI) will raise ₹3 lakh crore over the next few years.India’s Finance Minister Nirmala Sitharaman announced that the Indian government has approved the setting up of a Development Fund Institution (DFI). The new national bank will use the markets to raise capital and put those funds into long-term projects.