BWI: IDFC Foundation Makes its Second Investment of Equity of Rs.2.25 crore in Pipal Tree Ventures Pvt. Ltd

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Monday, November 15, 2010 06:14 PM IST (12:44 PM GMT)
Editors: General: Economy; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
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IDFC Foundation Makes its Second Investment of Equity of Rs.2.25 crore in Pipal Tree Ventures Pvt. Ltd


Mumbai, Maharashtra, India, Monday, November 15, 2010 -- (Business Wire India) -- IDFC Foundation has made an investment of Rs. 2.25 crore in Pipal Tree Venture Pvt. Ltd. (PTVPL), a for-profit company engaged in providing vocational training for skills required in the construction industry to unemployed youth from rural areas.

IDFC Foundation, the development arm of IDFC, invests with the objective "to promote the inclusive and sustainable delivery of infrastructure services in India", in line with its overall mission of nation building. This is its second investment.

Speaking on the occasion, Anupam Srivastava, Group Director - CSR, IDFC, said, "We are very pleased to partner with Pipal Tree Ventures in its social mission to skill unemployed rural youth to meet the huge shortfall in availability of semi-skilled workers in the infrastructure & construction sector. For us, this investment represents a perfect example of CSR, as we are enabling inclusive growth while at the same time meeting a critical need of our clients in the infrastructure sector."

India's construction sector is estimated to require as many as 33 million additional skilled workers over the next 10 years. With the backing and support of IDFC Foundation, PTVPL aims to train 100,000 rural youth from India's most backward regions over the next 5 years and place them with construction companies. As one of the pioneers in the field, PTVPL hopes, with IDFC's help, to catalyze the setting up of industry-wide standards for quality execution and productivity in the construction sector, thus benefiting labour through enhanced job mobility.

About IDFC Ltd.

Infrastructure Development Finance Company Limited (IDFC) is India's premier financial services institution focused on infrastructure. It was set up in 1997 by the Government of India as a financier and catalyst for private sector's involvement in infrastructure development in India. For over 12 years, since the company's initial public offering in 2005, IDFC has evolved into a 'one stop shop' for infrastructure finance in India, meeting the complex and ambitious requirements of an expanding client base.

IDFC's strategy involves all parts of the value chain of infrastructure, providing a differentiated value proposition to its clients. IDFC's domain expertise in infrastructure combined with product breadth - project financing, investment banking and asset management enables it to provide creative solutions to its clients. IDFC has strong relationships with the private sector and government enabling it to provide objective advice and facilitate public-private partnerships in infrastructure. IDFC Foundation, it's not for-profit development arm, helps train government officials on public-private partnerships, provides advice on infrastructure policy and governance issues and on sustainable infrastructure development strategies.


CONTACT DETAILS
Venkatraman K.V, Infrastructure Development Finance Company Limited, +91 9004040575, venkatraman.kv@idfc.com
Etienne Marques, REPUTE Public Affairs & CSR Solutions, +91 9920243354, etienne.m@reputesolutions.com

KEYWORDS
ECONOMY, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES

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