Processing .....please wait.. 
The article has been forwarded.... 
IFC to invest in various sectors
By agencies
|
Wednesday, 09 November 2005, 20:30 IST
MUMBAI: The private am of the World Bank, International Finance Corporation (IFC) today said it will invest in various sectors including banks, infrastructure, services and agri business.
"We feel that investment in infrastructure has become a necessity for India. IFC will further study the needs of agricultural business and lend accordingly to this sector," IFC Operations Vice President Assaad J. Jabre said adding IFC has so far invested $1.3 billion out of which $30 million has been in this year, he added.
FCI Global Manufacturing and Services Chief Investment Officer Reyaz Ahmed said that FDI flows had shown a reversal in trend.
"Traditionally, FDI flow is from richer countries to poorer countries. Now there is a reversal and it is important that developing countries invest in other developing countries," Ahmed said.