IIFCL to Raise $1 billion for infrastructure via MIGA Fund

India Infrastructure Finance Company Limited (IIFCL) plans to mobilise up to $1 billion through the MIGA guarantee fund to support infrastructure development across the country. IIFCL is in the process of seeking approval for mobilising up to $1 billion as long-term commercial debt without sovereign guarantee, in collaboration with MIGA, a World Bank Group entity, which would result in a reduction in the financial burden on the public exchequer. The state-owned entity is in talks with three to four leading global banks to raise the funds for 15 years.