International Finance Corporation, which plans to hike its India exposure to $1.5 billion by 2007, is eager to invest in the equity of special economic zones, including the Rs 4,950 crore (Rs 49.50 billion) Maha Mumbai SEZ.
"A number of them (SEZs) have approached us. We are examining a couple of them including the Maha Mumbai SEZ," IFC South Asia director, Dimitris Tsitsiragos, said.
The private lending arm of the World Bank is waiting for the SEZ bill to be passed by Parliament before committing any funds in these high-growth projects.
Tsitsiragos said IFC may invest in both equity and debt of the Rs 4,950 crore Maha Mumbai SEZ project coming up near the Jawaharlal Nehru Port.
If it materialises, this will be the first SEZ in South Asia that would get IFC funding.
About 15 banks and financial institutions are eager to invest in the SEZ. The debt:equity ratio has been fixed at 2:1 for the Mumbai SEZ, coming up on over 7,500 acres of land.
Speaking at the seminar, Tsitsiragos said global experience shows that SEZs provide an opportunity for higher growth in exports, employment, technology transfers and hence, higher growth in the economy.
World Bank executive director C M Vasudev said development of SEZs through relaxation of various legislations are a good way to sequence reforms.
Since changes in labour laws and other tough reforms take time, he said it is good to create islands of productivity to increase the country's competitiveness globally.
© 2026