IFC, the private lending arm of the World Bank, on Friday said it would annually invest around $500 million in India "over the coming years" in sectors like manufacturing and infrastructure, apart from widening its advisory services.
"Our forecast is to invest $500 million every year in India over the coming years," Anil Sinha, general manager with IFC, said.
Sinha said IFC, which invested $450 million in India last year, currently had $1.2 billion worth outstandings in India. This included $200 million in the form of equity in private companies.
"Additionally, $500 million have come in through syndications on the investment side," the IFC official said.
On the new investments, he said, will in the area of manufacturing and infrastructure. "We would like to further increase our investments. For this, we would want more private sector participation," he added.
Sinha said IFC was also in talks with various second-tier banks to assist them in the form of loans and equity. However, he refused to divulge further details. The past investments of IFC in the area include IL&FS, HDFC, IDFC and ING Vsaya.
On the advisory services front, Singh said IFC was working with state governments to improve their investment climate. "We help them in designing solutions and also in implementing them," he said.
On the side of private sector, he said IFC was involved in development of small and medium enterprises in the northeast.
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