US $ 1 Billion Global Rupee Bond Program - PIB
International Finance Corporation (IFC) Issues the first Tranche of US $ 161 Million Under its US $1 Billion Global Rupee Bond Program Government in consultation with RBI and SEBI has been making concerted efforts to strengthen India’s capital market and open-up the economy in a calibrated and careful manner to attract greater foreign capital flows and investment keeping in view the evolving macroeconomic scenario and financing needs of the economy. Recently International Finance Corporation ( IFC) launched a $1 billion offshore bond program—the largest of its kind in the offshore rupee market—to strengthen India’s capital markets. Under the program, IFC will issue rupee-linked bonds and use the proceeds to finance private sector investment in the country. It may be noted that the exchange rate risk on the bond is borne by the investor. On November 19, 2013 IFC issued the first tranche of US $ 161 million under its USD 1 billi