Govt launches $2 bln infra debt fund

NEW DELHI Mon Mar 5, 2012 5:24pm IST

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NEW DELHI (Reuters) - The government has launched a $2 billion infra debt fund, with private lender ICICI Bank(ICBK.NS) owning the most, Gajendra Haldea, an infrastructure adviser in Planning Commission, said on Monday.

The long-term debt fund will be set up jointly by ICICI Bank, Bank of Baroda(BOB.NS), Citi and Life Insurance Corporation of India (LIC), Haldea added.

ICICI Bank will own 31 percent, while Bank of Baroda will hold 30 percent, Citi 29 percent and LIC 10 percent.

(Reporting by Manoj Kumar and Arup Roychoudhury; editing by Malini Menon)

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