Mumbai, Maharashtra, India, Wednesday, June 12, 2013 -- (Business Wire India)
IDFC Limited announced its adoption of the Equator Principles, an
internationally accepted credit risk management framework for determining,
assessing and managing environmental and social risk in Project Finance
transactions. “We are delighted and proud to be the first signatory to the
Equator Principles from India. Adoption of the Equator Principles is part of
IDFC's goal of contributing to Nation Building in an environmentally and
socially sustainable manner. IDFC has always been a pioneer in the field of
environment risk management. Signing of the Equator Principles is a logical
progression in maintaining our leadership role in this regard” said Dr. Rajiv
Lall, Executive Chairman of IDFC Ltd.
The Equator Principles are adopted voluntarily by financial institutions and are
applied where total project capital costs exceed US$10 million. The Principles
are based on the International Finance Corporation's (IFC) Performance Standards
on Environmental and Social Sustainability, and on the World Bank Group's
Environmental, Health and Safety Guidelines.
Internationally at present, 78 banks, including ABN Amro, BNP Paribas, Barclays,
Bank of America, Citigroup, Credit Suisse, HSBC, Societe General, have adopted
the Equator Principles.
IDFC is India's leading integrated infrastructure finance player providing end
to end infrastructure financing and project implementation services.
On this occasion Vikram Limaye, MD & CEO of IDFC Ltd. said “Since inception
IDFC has mainstreamed environmental and social risk management into its business
operations. This initiative is an indicator of our resolve to integrate the
global best practices in our risk management framework. Being an EP signatory
reinforces IDFC's leadership position in environmental risk management and
should enable IDFC gain access to more diverse funding sources from
international institutions that consider environmental best practices as a key
funding criterion ".
ABOUT IDFC Ltd.
IDFC was established in 1997 as a private sector enterprise by a consortium of
public and private investors. Its expertise in the infrastructure sector and
strong relationships with government and infrastructure sponsors provides it
with a platform for facilitating private investment and public-private
partnerships in infrastructure projects in sectors where market structures,
government policy and regulation are evolving.
The mission is to be the financier and advisor of choice for infrastructure
projects in India. IDFC is focused on enhancing shareholder value through
pursuing strategies that enhance its profitability, return on assets and return
Today IDFC is already the single largest debt & equity financier of privately
sponsored infrastructure in the country having a balance sheet of US$ 10.7
Going forward, our business strategy is to be “India's Specialist
Infrastructure Institution” with an infrastructure focused project finance,
investment banking and asset management franchise.
Media contact details
Paradigm Shift PR,
Paradigm Shift PR,
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-0- Jun/13/2013 04:31 GMT
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