PTC India Financial Services and IFC, the World Bank Group’s private funding arm, have agreed to partner for providing infrastructure financing for renewable energy projects in India. PTC Financial Services will become the first institution in India to sign IFC’s master cooperation agreement.
IFC’s master cooperation agreement was created in 2009 in response to calls from finance institutions to collaborate more closely to help meet the shortfalls in private sector financing during the global financial crisis. Since then, signatories have co-invested more than $3 billion with IFC to support private sector development across the world.
