Infrastructure Development Finance Corporation (IDFC) has disbursed close to Rs 1,000 crore in the first six months of the current fiscal against sanctioned funding worth Rs 5,000 crore, according to a top company official. The target for the current fiscal is about Rs 2,000 crore in disbursements.
"We have already disbursed Rs 1,000 crore in areas ranging from telecom, power, roads and even storage and cold chains for food products. We have sanctioned Rs 5,000 crore worth of funding up to now," IDFC vice president O K Balraj said.
The focus areas of the 40 per cent government owned infrastructure finance agency are telecom, power and roads, in that order of importance, Balraj said, adding the company has recently forayed into financing infrastructure for food by setting up a separate department for funding storage facilities and cold chains.
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Of the Rs 2000 crore IDFC aims to disburse during the current fiscal, Rs 800 crore each would go into telecom and power sectors.
"We have been around only for the past four years and our disbursements have been steadily increasing," Balraj said while briefing the media here yesterday on Infranet-2000, a three day conference cum exposition on infrastructure to be held in the capital in December.
The event is being organised by the Confederation of Indian Industry (CII) and IDFC is the partner agency for the first time in the annual event.
"There has been a demand to look at infrastructure beyond its traditional role. Realising the importance of new and emerging sectors, the scope of Infranet - 2000 has been modified to cover tourism, information technology, food and agriculture, media and entertainment.
We expect a significant number of our participants to be from these new emerging sectors," he added.