International Finance Corporation, the private sector arm of the
World Bank, launched rupee-denominated bonds worth $2.5 billion to fund
infrastructure investments in India. "Under the programme, IFC will use a
combination of rupee-denominated bonds and swaps to raise
local-
currency financing of up to $2.5 billion, or 150 billion rupees,
over the next five years," Reuters reported.
It would offer a safe investment opportunity for domestic funds and
other investors, said IFC executive vice-president and chief executive
officer Jin-Yong Cai, media reports suggested.
The bond sale would ensure to generate more interest in Indian economy and atrract long term investment funds in the economy.