Infrastructure financing company IIFCL will raise USD 1 billion in the next 2 fiscal years to fund power, road, port and airport projects.

Mr SS Kohli chairman of IIFCL said that “We have so far not finalized the date, but our plan is to raise USD 500 million each in 2010 to 2011 and 2011 to 2012.”He added that the company is looking to raise the fund as per its need and keeping in mind the current available resources.

As per report, IFCL had recently signed an agreement with Germany’s development bank KFW for raising USD 50 million.

On disbursement of loans, Mr Kohli said that “As of today our disbursement stands at INR 7,300 crore and we hope to close this fiscal at over INR 9,000 crore.’’

Established by the Government in 2006 to fund major infrastructure projects, IIFCL has been playing a key role in battling the slowdown by promoting infrastructure development across the country.

(Sourced from www.thehindubusinessline.com)