International Finance Corporation (IFC), plans to invest a sum of one billion dollars during the current financial year. The amount, IFC wants to invest this fiscal, is more than double of what it had invested during the financial year 2006-07.
Anil Sinha, general manager, SEDF, technology assistance and advisory services coordinator of IFC, said, ?We have made a commitment of investing one billion in India during the year in various sectors, significant among them being financial, agri-business and manufacturing?. In fact IFC, which invests in the developing countries, has made its largest investments so far in India.
The IFC has chartered out two ways of helping developing countries like India, which include financing directly the private sector and making advisory services available to the private sector.
For example, the company has invested a total sum of $170 million in Cairn Energy within a period of past two years.
Also, IFC has partnered with the company on a programme to develop SMEs (small and medium enterprises) through providing training and advice in the Barmer region of Rajasthan, informed Sinha.
We give advices to the SMEs free of cost through these programmes, known as ?linkages programmes?. The idea is to link small companies to the larger ones, reasoned Sinha.
Asked how does he see India?s economic growth, Sinha replied that ?India?s economic is quite sustainable as it is based on a sound principle?.
