|
IDFC was incorporated on January 30, 1997 in Chennai, IDFC was set up on the recommendations of the 'Expert Group on Commercialisation of Infrastructure Projects' under the Chairmanship of Dr. Rakesh Mohan. The Group in 'The India Infrastructure Report' recommended a new approach and identified the need for a specialised financial intermediary for infrastructure. The announcement of IDFC's creation in the Union Finance Minister's budget speech, constitution of 'the Reddy Working Group' and strong capitalisation of IDFC reflect the crucial role that the institution is envisaged to play in infrastructure development. IDFC, as on March 31, 2005 on a cumulative basis, has approved financial assistance to 198 projects aggregating over Rs. 2,45,936 million. IDFC has also broadened its initial focus on power, roads, ports and telecommunications to a framework of energy, telecommunications & information technology, integrated transportation, urban infrastructure,health care, food & agri-business infrastructure, Education Infrastructure and Tourism. In its sectors of engagement, IDFC has been awarded lead arranger mandates and key advisory assignments. Key initiatives in keeping with IDFC's policy advisory mandate of providing leadership in rationalising policy and regulatory frameworks, and removing impediments to the movement of capital to infrastructure sectors, have been undertaken.
|
