IFC launches $1 billion masala bond programme in the US and Europe

First tranche opens on LSE; Centre, RBI had taken steps to promote such bonds to shore up rupee value

Taking advantage of tax sops, IFC, the World Bank’s lending arm, has launched its $1 billion masala bond programme in the US and Europe. 

According to the IFC, the first tranche of $100 million under the programme opened on Thursday night on the London Stock Exchange.

It was sold to a range of investors, including asset managers, banks and a pension fund, in the US and Europe.

These bonds are aimed at funding the rapidly expanding investment activities of IFC in India.

“Our investment activities in India touched a record high last year. In line with our strategy, we have made big strides in