WITH MANY of the state's public-private partnerships, including the Mumbai Metro, not giving the desired results, the state has roped in International Finance Corporation, a World Bank body, to advise it in developing such partnerships for its various infrastructure projects.

IFC will help Maharashtra Urban Infrastructure Development Company define a strategy and will recommend organisational, governance and capital structures and models for infrastructure projects aimed at improving the state's economic growth.

The state government has entered into various PPP initiatives, but the model is facing a lot of problems with government officials and private players not managing to synchronise their working styles.

The IFC will support the Maharashtra government in preparing business and financial plans that will help attract private equity .

"Infrastructure is a priority in South Asia, where there is a shortage of bankable projects," said World Bank Group Executive Director Dhanendra Kumar. "Successful examples worldwide indicate that public-private partnerships are useful in opening up markets and mobilising public and private resources."

IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing privatesector investment, mobilising private capital in local and international financial markets and providing advisory services to businesses and governments.

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