CEOs Forum proposes $10 billion indo-US infrastructure debt fund
08 Nov 2010
The India-US CEOs Forum has suggested the setting up of a $10 million joint infrastructure debt fund under the public-private partnership model to finance infrastructure projects in the country.
If implemented, the proposed fund could help India tap resources for its $514 billion infrastructure investment programme, commerce and industry minister Anand Sharma said, adding, "Both the governments will consider the recommendation."
Speaking to reporters on the sidelines of a CII meet in New Delhi, Sharma said finance minister Pranab Mukherjee and US Treasury Secretary Timothy Geithner are discussing modalities for putting in place the infrastructure debt fund.
Sharma said the details of the proposed fund would, however, be known only after the two countries take a final call on it.
"The governments have yet to take a final view and put in place the modalities. In principle it has been agreed that the governments will be fully supportive of the recommendation," Sharma said.
The fund would be operated on the public-private partnership (PPP) mode and it would help in meeting the country's funding gap in the infrastructure sector, he said.
