World bank
The World Bank’s arm International Finance Corporation (IFC) will invest $ 21 million in India’s SAMHI Hotels by way of convertible debentures with the focus to create jobs, promote energy efficiency infrastructure. IFC, a member of the World Bank Group, is investing $ 21 million in SAMHI Hotels through compulsorily convertible debentures. The investment will [...] Continue Reading »
During the course of their meeting in Brazil on Tuesday, the leaders of the BRICS countries – Brazil, Russia, India, China, and South Africa – gave their approval to the formation of the BRICS Bank. It was back in 2011-12 that India – during its chairmanship of the BRICS grouping – had floated the idea of [...] Continue Reading »
GNRC Hospitals, North-East’s premier hospital chain, has planned super-specialty hospitals in countries like Myanmar, Bangladesh and the African continent, as well as some north-eastern states. 10 hospitals are planned in the next five years, to be funded by the World Bank. Of the ten proposed hospitals, two or three units would be opened in the [...] Continue Reading »
A $500-million loan agreement has recently been signed by India with the World Bank. The $500-million loan will be granted to India by the International Bank for Reconstruction and Development division of the World Bank. The grace period of the loan will be 5 years; with a maturity of 18 years. The loan amount will [...] Continue Reading »
Ex World Bank’s President James Wolfensohn’s private investment fund has sold 5.57% of Chennai oriented home financing company Repco Home Finance for about Rs 112.59 crore in an open market deal. A Wolfensohn Capital Partners fund sold 34, 64,000 equity shares for Rs 325 per share. AS per the shareholding pattern available on the stock [...] Continue Reading »
Being developed in association by mortgage regulator National Housing Bank and Indian Banks’ Association Greenfield housing projects will soon come under a new rating system. The whole idea of rating intended to encourage lenders to give loans at discounted rates to individuals buying units in projects rated highly by NHB-IBA. It will in turn encourage [...] Continue Reading »
Aadhar Housing Finance Ltd announced launch of its operations in Gujrat. The company will provide housing finance to the lower income segments whose monthly income is between Rs. 5,000 and Rs. 25,000. Currently, the company operates in seven states. Kapil Wadhawan, Chairman informs that it has begun operations in Gujrat with nine branches. Adhar housing [...] Continue Reading »
To be able to meet the investment target of Rs 5000 crore in public infrastructure through public private partnerships (PPPs) for the12th Plan period (2012-17), Odisha’s state planning & coordination department has invited proposals from government departments and agencies. The PPP projects are to be taken up in socio-economic sectors like agriculture, water supply, health care, education, municipal services, warehousing, [...] Continue Reading »
The World Bank and the government of India signed a loan pact on Wednesday as per which USD 175 million will be provided by the multi-lateral lending institution to fund a second highways project in the state of Gujarat. As per a Finance Ministry release, “The loan agreement for World Bank (IBRD) assistance of USD 175 million for second [...] Continue Reading »
With the infrastructure development booming in Mumbai, the apex financial institute, World Bank shows interest in financing two mega projects in Mumbai. The projects include the Virar-Alibaug road-rail corridor and the development of 12 urban growth centres as satellite cities of Mumbai. The growth centres are planned in distant suburbs of Mumbai such as Kalyan, [...] Continue Reading »
