New Delhi, April 2 India Infrastructure Finance Company Ltd (IIFCL) plans to mobilize up to USD 1 billion through the MIGA guarantee fund during the ongoing first quarter to support infrastructure development across the country.
The Multilateral Investment Guarantee Agency (MIGA) provides guarantees against non-commercial risks to facilitate the flow of foreign investment in developing countries and lift people out of poverty.
"We are in the process of seeking approval to mobilize up to USD 1 billion as long-term commercial debt without sovereign guarantee, in collaboration with MIGA, a World Bank Group entity, which would result in a reduction in the financial burden on the public exchequer," IIFCL MD Rohit Rishi told