| Housing set to welcome PEs | | | | “PE funds are keen to park their investments in |
| Guidelines In The Works To Invite Funds | | | | the Yojana....Besides, the government cannot |
| The urban development ministry is also in talks with | | | | generate resources for this on its own,” he said. |
| the World Bank for a $5-billion loan under the | | | | As per IDFC Projects Equity managing director Sachin |
| Jawaharlal Nehru National Urban Renewal Mission | | | | Johri, a large number of PE funds are willing to take |
| (JNNURM) for improving urban infrastructure, the | | | | stake in such projects to the extent of 40-50%. |
| minister said. | | | | Enumerating benefit of participation of private equity |
| The World Bank loan requested under the JNNURM is | | | | companies in the scheme, Mr Roy said these funds |
| expected to be finalized “shortly” after | | | | will also provide expertise in valuing infrastructure |
| authorities have vetted the attached conditionality, | | | | projects, advise in fine-tuning business models, assist |
| he said. | | | | in toning up operational efficiencies and strengthen |
| “The ministry, in consultation with the Planning | | | | corporate governance. |
| Commission, is currently processing guidelines to | | | | The government is preparing guidelines for the |
| ensure PEs’ participation in the Yojana,” he | | | | participation of private equity (PE) funds in the |
| said at a national conclave on private equity in | | | | housing sector under the Rajiv Gandhi Awaas Yojana, |
| infrastructure organized by Assocham. | | | | minister of state for urban development Saugata |
| The government wants to harness private funds to | | | | Roy said. |
| provide affordable housing to millions of households | | | | The scheme aims to make a slum free India in five |
| under the scheme, he added. | | | | years with construction of over 10 lakh houses. |