IFC to hike India exposure to $500mn/yr

IFC, the private lending arm of World Bank, today said its exposure in India is expected to go up to $500 million annually in the next five years from the present $300 million.

"India is the third largest in terms of IFC's annual commitment. We hope to increase it substantially from $300 million to $500 million in 5 years," Michael U Klien, chief economist of IFC, said today.

He said the exposure would include equity, debt and guarantees to Indian companies.

"We are strategically looking at infrastructure," Klien said, adding the multilateral funding agency was also keen to pick up equity in retail, IT, telecom and manufacturing companies having world-class business models.