International Finance Corporation (IFC) has been involved in a number of small-scale lending activities to support development projects in India.
AZB & Partners, led by partner Gautam Saha, advised IFC on three financings, including a US$15 million external commercial borrowing (ECB) financing to Dishman Pharmaceuticals and Chemicals. The money will be used to finance the construction of a pharmaceutical ingredient manufacturing facility in India and to invest in the construction of a pharmaceutical plant in China.
The second financing, another ECB valued at US$15 million, was given to WaterHealth India and will be used to set up water centres in villages to supply portable water to rural residents. IFC also provided a foreign currency financing of US$50 million (ECBs valued at US$35 million and foreign currency convertible bonds worth US$15 million), to Indian publicly listed company Apollo Hospitals to fund hospital expansion projects and establish Apollo Reach Hospitals in tier-II cities.
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