India needs USD1 trillion to finance infrastructure projects under the government’s development plan for 2012-2017, the country’s finance minister says.
The government aims to raise 50 percent of the required amount from private sector sources, Finance Minister Pranab Mukherjee said according to RTT news. The rest is expected to come from bilateral and multilateral lenders.
In a recent meeting with Asian Development Bank President Haruhiko Kuroda, Mukherjee thanked the multilateral bank for its massive investment in India’s infrastructure.
The ADB is lending USD7.4 billion toward infrastructure projects in the transportation, urban development and energy sectors of various Indian states, as Devex reported.