IIFCL starts $1.8bn ECB programme
Analysis based on 6 articles · First reported Aug 23, 2026 · Last updated Aug 24, 2026
The fundraising strengthens IIFCL's balance sheet and its ability to finance long-term infrastructure projects, supporting India's infrastructure investment pipeline. It also signals continued access to international capital markets for Indian state-owned entities, which may have positive spillover effects on sentiment for Indian infrastructure and banking sectors.
India Infrastructure Finance Company (IIFCL), a state-owned infrastructure financier, has initiated its $1.8 billion External Commercial Borrowing (ECB) programme by raising $200 million from international markets. The programme follows government approval and aims to diversify IIFCL's funding base and access long-term capital at competitive rates. As part of the programme, IIFCL plans to raise about $1 billion through long-term ECBs with tenors up to 15 years under the International — Multilateral Investment Guarantee Agency (MIGA) Guarantee Facility, in multiple tranches. MIGA, a World Bank Group arm, provides guarantees against non-commercial risks. The funds will support infrastructure projects with long gestation periods and strengthen IIFCL's capacity to provide long-term financing. Managing Director Rohit Rishi stated the company is committed to executing the programme within the stipulated timeframe. IIFCL has previously raised over $3.5 billion from international markets.
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