header
Home Browse Jobs JOB SEEKER Career Advice About Us Contact Us EMPLOYER
facebook linkedin Twitter
 
 
Career News and Advice  
 
IFC to invest $1.1 b in India
International Finance Corporation (IFC), a member of the World Bank group, will invest over $1.1 billion in India in this fiscal, South Asia region Manager Jun Zhang on the sideline of the FICCI-IBA banking seminar today said.

The lender, which has nearly 70 clients in India including country’s largest private bank ICICI, HDFC, Kotak Mahindra and ING Vysya apart from a host of companies from various phases of the industry, had invested nearly $350 million for Indian financial institutions in last fiscal while total investment in the country stood at around 1.1 billion US dollars.

''As a growing market and strong player in financing overseas Merger & Acquisition (M&A) deals, India is favourite investment location of IFC. As a world bank group organization, we have been constantly extending assistance in term of finance, risk shifting, market intelligence and technical assistance to the Indian business houses.'', Zhang said.

However, stringent regulatory approaches and high volatile market conditions still act as a back-pulling factor for overseas investors approaching Indian soil, he said.

''The regulator's approach is not so welcoming for private sector.

An investor has a still a plethora of restrictions before him prior to investing in India. This needs to be resolved.'', he added.

On the issue of US-sub prime crisis, he said the problem has not done much impact on Indian markets since the liquidity abundance and less overseas obligations shielded the country from the mortgage crisis.

However, India's prospects as major financer in global acquisitions are promising and will help the country to sustain its economical growth in longer term.

''Given India is largely depending on domestic consumption, coupled with the unstable market situations, have made it necessary to explore the opportunities abroad, among which its role as financier of outbound acquisitions is significant'', he said.

IFC, which has a global networth of $7.8 billion, started its Indian operations in 1960s and has headquartered in Delhi with other two offices located in Mumbai and Chennai.

IFC, in association with Netherland's Development Finance Company (FMO) and Deutsche Bank had announced a joint investment in the microfinance private equity company Aavishkaar Goodwell, in July this year.

The agreement envisaged launching of up to 60 greenfield microfinance organizations and the expansion of up to 10 fast-growing microfinance institutions across India.
Source :
Sify.com
 
For more information on Microfinance Click here
 
  More Articles
 
Microsoft to drop Messenger, switch to Skype View: Dont panic, robots are not job snatchers
More firms but fewer offers at IITs this year IIT students set to land crore-plus salary offers from Microsoft, Oracle
Infosys, TCS, Wipro go slow on hiring Yes Bank asks MFIs to return Rs.100 cr loans