Export Development Canada (EDC) is investing US$ 50 million in the proposed US$ 1 billion infrastructure fund in India to provide Canadian companies with new opportunities to participate in major projects in the booming Indian market.

The fund will be managed by IDFC Project Equity Company Limited, a wholly owned subsidiary of Infrastructure Development Finance Company Ltd (IDFC).

Mumbai-based, IDFC provides project finance and investment banking services for infrastructure initiatives in financial markets; asset management; project development; and advisory services.

On the other hand, EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business.

The IDFC-sponsored India Infrastructure Fund will invest in infrastructure projects involving energy and utilities, transportation, telecommunications and social infrastructure in India.