IFC, Cairn to open enterprise centre in Barmer

New Delhi, Feb 8 (UNI) International Finance Corporation (IFC), a World Bank Group member, today announced the opening of an enterprise centre in partnership with Cairn India, to support community and local small businesses development initiatives in and around the Barmer, Rajasthan..

The enterprise centre will help provide information and expertise on business practices to local small and medium-sized firms in Barmer, supporting them to become potential suppliers and service providers to the oil and gas operation and other ventures in the region.

The partnership aims to leverage the Cairn's investments in the region. The two institutions signed a Linkages Cooperation Agreement in June 2007 to design, fund, and implement sustainable socio-economic development programmes in Rajasthan over a three-year period.

IFC will spearhead and manage operations at the Enterprise Centre, sharing its knowledge and experience from similar initiatives in Azerbaijan, Chad, Mozambique, and Peru.

IFC will also adapt the project to the local environment. The International Centre for Entrepreneurship and Career Development together with the Centre for Development and Population Activities and Society to Uplift Rural Economy will implement the activities.

Cairn India focuses on oil and gas in India. The company holds material exploration and production positions in eastern and western India, and new exploration rights elsewhere in the country. It has made significant oil and gas discoveries in Barmer.

UNI BJR PBB DS1703