IFC to focus on restructure financing

By Our Special Correspondent

CHENNAI, AUG. 23. The International Finance Corporation (IFC), the private sector financing arm of the World Bank, which sanctioned loans and equity assistance worth $400 million in India last year, hopes to increase its involvement further this year.

This was brought out in an interactive session with an IFC team organised by the Confederation of Indian Industry here today, according to a CII release.

The IFC representatives said that financing for restructuring was an important focus area for the corporation, and an important basis for financing was the adoption of good corporate governance by potential beneficiary companies and their compliance with World Bank standards for environment, health and safety.

The IFC team included Mr. Nell Gregory, Strategic Head, South Asia, Ms. Mary Ellen Iskenderian, Director, South Asian Region, and Ms. Usha Rao Monari, outgoing Regional Manager, South Asia, Mr. Vipul Prakash, Regional Manager-Designate, and Ms. Nandini Adya, Senior Investment Officer.

Mr. V. Srinivasan, past President of the CII, called for greater focus on project financing by the IFC.

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Section  : Business
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