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GBP 10m gives Cairn India Green light
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THE World Bank is paying around GBP 10m for a stake in Cairn
India, the Scottish oil and gas explorer's majority-owned Indian
operation.
International Finance Corporation, the World Bank's private
investment arm, has bought seven million shares, or just under 1 per
cent, of Cairn India in a move which is a fillip for the energy
company's efforts to be recognised as a socially responsible but also
profitable business.
According to its website, the IFC provides "loans, equity,
structured finance and risk management products for the private
sector in developing countries".
The IFC believes ...
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