IIFCL to launch $1 bn infra debt fund by Feb

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India Infrastructure Finance Company plans to launch a $1 billion infrastructure debt fund by the end of February, the firm's chairman and managing director told reporters on Monday.

HSBC, the Asian Development Bank and local lenders Life Insurance Corp of India and IDBI Bank will be co-sponsors of the fund, SK Goel said.

India has targeted $1 trillion to overhaul the country's clogged roads, railways and ports over the five years to 2017, and has called on private cash to fund half of that figure.

Reuters