India's Infrastructure Plans to Cost USD1 Trillion

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.

> India Secures Massive Infrastructure Aid from ADB

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.