India Holding Talks With State Bank for $11 Billion Road Fund
This article is for subscribers only.
India is in talks with the nation’s largest bank over an $11 billion fund as Asia’s third-biggest economy seeks to raise finances to build roads, ports and power plants, an aide to the prime minister said.
The government is holding discussions with the State Bank of India and “a couple of other players” for a debt fund that would buy bonds sold by infrastructure companies, Montek Singh Ahluwalia, 66, said in an interview in Kuala Lumpur yesterday. The State Bank may act as an anchor investor along with one or two local or foreign funds, he said.