View: India's new bank for infra financing is clearly mandated to have a ‘developmental role’

Infrastructure financing is a unique animal. There are development, construction and operating risks in which existing financing institutions have demonstrated their inadequacies in handling all or most of the links in this chain. Infra financing is also about nation-building, large public works and ‘development projects’ that may not necessarily provide a financial rate of return (RoR) in the short and medium term, but have huge multiplier