Indian Project Bond Market Gets $128M Boost From ADB

Law360, New York (September 24, 2012, 8:00 PM EDT) -- The Asian Development Bank and the Indian government have formed a $128 million fund to backstop Indian infrastructure bonds in an effort to attract private dollars to the subcontinent, where sorely needed energy, rail, road and utility projects are drastically underfunded, the bank announced Friday.

Touted as the first of its kind for India, the facility is aimed at both domestic and foreign investors and specifically targets insurance companies and pension funds, which ADB estimates have a combined $330 billion in uncommitted capital burning a hole...
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