IFC weighs $500 million financing for India’s smart meter programme

The International Finance Corporation (IFC) could provide as much as $500 million (around Rs 41 billion) to companies engaged in the roll-out of smart meters in India. According to IFC, the Smart Meter Na­tional Pro­gramme presents an investment opportunity of more than $20 billion in the short to medium term. IFC is currently engaged in discussions regarding long-term financing support for these platforms and has the potential to provide up to $500 million funding for the sector in the medium term.