BWI: IDFC Becomes the First Indian Financial Institution to Join the Equator Principles Association

Press release from Business Wire India
Source: IDFC Ltd
Wednesday, June 12, 2013 05:00 PM IST (11:30 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Major diversified industrial groups, Real estate, Stock exchanges
--------------------------------------------------
IDFC Becomes the First Indian Financial Institution to Join the Equator Principles Association


Mumbai, Maharashtra, India, Wednesday, June 12, 2013 -- (Business Wire India) -- IDFC Limited announced its adoption of the Equator Principles, an internationally accepted credit risk management framework for determining, assessing and managing environmental and social risk in Project Finance transactions. "We are delighted and proud to be the first signatory to the Equator Principles from India. Adoption of the Equator Principles is part of IDFC's goal of contributing to Nation Building in an environmentally and socially sustainable manner. IDFC has always been a pioneer in the field of environment risk management. Signing of the Equator Principles is a logical progression in maintaining our leadership role in this regard" said Dr. Rajiv Lall, Executive Chairman of IDFC Ltd.

The Equator Principles are adopted voluntarily by financial institutions and are applied where total project capital costs exceed US$10 million. The Principles are based on the International Finance Corporation's (IFC) Performance Standards on Environmental and Social Sustainability, and on the World Bank Group's Environmental, Health and Safety Guidelines.

Internationally at present, 78 banks, including ABN Amro, BNP Paribas, Barclays, Bank of America, Citigroup, Credit Suisse, HSBC, Societe General, have adopted the Equator Principles.

IDFC is India's leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.

On this occasion Vikram Limaye, MD & CEO of IDFC Ltd. said "Since inception IDFC has mainstreamed environmental and social risk management into its business operations. This initiative is an indicator of our resolve to integrate the global best practices in our risk management framework. Being an EP signatory reinforces IDFC's leadership position in environmental risk management and should enable IDFC gain access to more diverse funding sources from international institutions that consider environmental best practices as a key funding criterion ".

ABOUT IDFC Ltd.

IDFC was established in 1997 as a private sector enterprise by a consortium of public and private investors. Its expertise in the infrastructure sector and strong relationships with government and infrastructure sponsors provides it with a platform for facilitating private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.

The mission is to be the financier and advisor of choice for infrastructure projects in India. IDFC is focused on enhancing shareholder value through pursuing strategies that enhance its profitability, return on assets and return on equity.

Today IDFC is already the single largest debt & equity financier of privately sponsored infrastructure in the country having a balance sheet of US$ 10.7 billion.

Going forward, our business strategy is to be "India's Specialist Infrastructure Institution" with an infrastructure focused project finance, investment banking and asset management franchise.


CONTACT DETAILS
Alpesh Nakrani, Paradigm Shift PR, +91 9869121167
Anirudh Rajan, Paradigm Shift PR, +91 9892343828

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, GROUPS, REAL ESTATE, STOCK EXCHANGES

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com