IFC to support MUIDC projects

Mumbai, May 12 (UNI) IFC, commercial arm of the World bank today said it would advise Maharashtra Urban Infrastructure Development Company Limited on developing public-private partnership projects in various infrastructure sectors to boost economic growth in Maharashtra.

IFC in a release here stated that it would help the Company define a strategy and recommend organisational, governance, and capital structures and models.

As a potential nodal state level entity for public-private partnership projects development in Maharashtra, MUIDC intended to invite strategic stakeholders to provide early stage equity. For this purpose, IFC would assist the Company in preparation of its business plan and financial plan; and identify capacity building requirements.

With a net commitment of about USD one billion in single state projects, Maharashtra has one of the largest World Bank programmes among Indian states. All these projects focus on development of infrastructure in the state.

Developing bankable projects in infrastructure for private sector participation is a key element of IFC's India Infrastructure Strategy. As part of its out reach efforts in India, IFC had also signed a Memorandum of Understanding with the Infrastructure Corporation of Andhra Pradesh Limited, a state government entity, to help develop infrastructure projects through public-private partnerships. In addition, the Indian government has enlisted IFC as transaction advisor for public-private partnerships in the country.

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