Islamic Development Bank seeks tie-ups for infrastructure investments

Islamic Development Bank Group, is interested in exploring joint opportunities with other multilateral development banks to invest in IndiaÂ’s infrastructure sector, said Islamic Development Bank President Bandar M.H. Hajjar. The development is significant given IndiaÂ’s infrastructure requirements and the need to access capital at competitive rates. Starting with an allocation of around Rs 1.81 trillion in 2014-15, expenditure towards infrastructure reached Rs 4.94 trillion in 2017-18. India plans to invest as much as Rs 5.97 trillion in creating and upgrading infrastructure in the current financial year.