August 20, 2014 / 9:56 AM / 4 years ago

IFC launches $2.5 bln rupee-denominated bonds for infra projects in India

NEW DELHI, Aug 20 (Reuters) - The World Bank’s private-sector arm on Wednesday launched $2.5 billion, rupee-denominated bonds to fund infrastructure investments in India, the International Finance Corporation (IFC) said in a statement.

Under the programme, IFC will use a combination of rupee-denominated bonds and swaps to raise local-currency financing of up to $2.5 billion, or 150 billion rupees, over the next five years,” the statement said. (Reporting by Manoj Kumar; editing by Malini Menon)

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