IFC to help AP govt in public-private projects

International Finance Corporation (IFC), a member of the World Bank Group, has been appointed the lead advisor to Infrastructure Corporation of Andhra Pradesh (Incap).

An MoU was signed between Incap and IFC, which envisages creating an enabling environment for mutual co-operation in project development in Andhra Pradesh, enable and mitigate deficiencies in procurement of technology required for the projects, and facilitate project preparation activities including transaction advisory services.

Incap has several planned public-private partnership projects in road transport, inland water transport, airports, marine ports, industrial parks and infrastructure services like water and sanitation. IFC will help Incap develop and close public-private partnership projects in select sectors.

"IFC's strategy in south Asia and in India is focused towards promoting inclusive growth and supporting infrastructure development. Our advisory work in the area of public-private partnerships will be an important contribution to infrastructure development in the region," Paolo M Mertelli, regional director, IFC South Asia, said in a press release on Thursday.

IFC committed $8.2 billion in FY07, mobilised $3.9 billion through loan participation and structured finance for 299 investments in 69 developing countries.